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President of Argentina Javier Milei announced Wednesday that his administration is preparing a structural tax reform that will eliminate 90 percent of existing taxes in 2025.
“There is a saying that says ‘good times create weak men, weak men create hard times, hard times create strong men, and it is strong men who create good times.’ This year, we Argentines have proven to be strong men and women, forged in the heat of difficult times,” Milei said. “Thus, next year we will see a real tax competition among the Argentine provinces to see who will attract the most investment,” Milei said.
The Argentine president posited that it is also essential to “break the foreign trade chains that are currently suffocating us” to accelerate the country’s economic recovery. Argentina is a member of the regional Mercosur trade bloc, a group that Milei has fiercely criticized in the past and which he now holds its pro-tempore presidency as of
“In this way, Argentina will stop turning its back on the world and will once again be a protagonist of world trade, because there is no prosperity without trade and there is no trade without freedom,” he continued. Milei observed that 2025 will see Argentina hold midterm legislative elections and stressed that “unlike what politicians usually do, who in election years spend their time squandering the money of all Argentines” his administration would “do something different” and continue implementing his economic reforms.
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