President Javier Milei isn’t believed to have attended Sir Paul McCartney’s Buenos Aires concerts last weekend, but if he had, he would have heard thousands of Argentines belting out ‘Getting Better’.
Are things getting better for Argentina? There’s enough in the World Bank’s latest assessment to give Milei optimism. While his brutal austerity measures have caused the economy to shrink by 3.5 per cent in 2024, according to projections, GDP is also primed to grow by 5 per cent next year.
One consequence of Milei’s success has been a stark increase in poverty
Now the main concern for Milei – and South America’s great libertarian experiment – is whether he will still be around to reap the benefits. For the first time since he swept to electoral victory almost a year ago, there are signs that his popularity may be on the wane.
During the election campaign he promised to massively cut government spending, and he has been good to his word.
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