Argentines will double their income thanks to Miley's reforms

Deep structural reforms Repeal about 450 laws and regulationsSharp cuts in public spending and a plan to achieve financial stability to stop inflation. The government he heads Javier Miley Argentina faces a historic challenge, given the disastrous economic situation left behind by the Kirchner Doctrine, but the measures it proposes to support the country again could represent an unprecedented change, as long as they are implemented in a timely manner.

The proof of this is that, according to the Libertad y Progreso Foundation, the reforms proposed by Miley will allow Argentina It rose to 90 places in the Economic Freedom Index It is prepared annually by the Heritage Foundation From 144th to between 50th and 55th in the worldout of a total of 176 countries evaluated.

In 2023, Argentina shared the economic freedom ranking with… Lesotho (141), Nepal (142), Uganda (143)Belarus (145), Tajikistan (146), and Laos (147). In addition, it is one of the worst Latin American economies, bested only by Haiti (149th), Bolivia (167th), Venezuela (174th), and Cuba (175th).

With the implementation of the reforms, Argentina will have an index of economic freedom similar to the Index of Economic Freedom Spain (51), Romania (53) or France (57). Compared to the region, it could reach, or even exceed, Mexico (61) and Colombia (62). Although it would be lower than Chile (22), Uruguay (27), Peru (44) and Costa Rica (45).

Singapore tops the Economic Freedom 2023 ranking with an index of 83.9 points. The freest economies platform is completed by Switzerland (83.8 points) and Ireland (82.0 points). On the other hand, North Korea, with a score of 2.9 points, appears to be the most repressive economy.

Specifically, according to the aforementioned institution, the country’s ranking in the Economic Freedom Index will improve by 51 points, which places it among the 20% of the least free countries in the world, to be within the range of 65 points, thus placing it among the list of the 20% of the least free countries in the world. . Among the 40% of the most free.

thus, It would leave the group of “mostly unfree” economies. (Index in the range 50.0-59.9). In this group of 64 countries, the only Latin American economies present are Brazil, Nicaragua and El Salvador. With improvement, Argentina will enter the group “More or less free” economies. (Index in the range 60.0-69.9), where there are 55 countries, including most Latin American countries.

The more freedom, the greater the wealth

Empirical evidence suggests that freer countries achieve higher levels of development and per capita income. Average per capita income in free economies is 12.8 times higher than in economies with repressed freedoms.

For their part, per capita income among the “mostly unfree” economies, the current group in Argentina, is less than half that of the “moderately free” economies, the likely group. This means that, If Argentina implements reforms, it may aspire to at least double its per capita income. This in turn will lead to less poverty and more opportunities.