BUENOS AIRES — Argentine President Javier Milei defended his free-market economic program in an interview, denying that his reforms carry costs for growth and pointing to Argentina's economic peak in the late 1800s as evidence his model can work.
Milei won the presidency in November and took office in December. He discussed his first months in office and the progress of his reform agenda during an April 25 interview at the Casa Rosada, Argentina's presidential palace.
Milei cited Argentina's achievement of the highest GDP per capita globally in 1895, when the country emerged as a leading world power after roughly 35 years of economic expansion. He attributed this ascent to the "Generation of 1837," which drafted a Constitution in 1853 aligned with U.S. founding principles.
"Argentina transformed from a barbarian country to a global power within 35 years by embracing ideas of liberty," Milei said, describing his slogan "Make Argentina Great Again" as a return to that era.
Argentina maintained its position as a leading global power until the mid-1910s, Milei said. He identified the rise of the Unión Cívica Radical under Hipólito Yrigoyen as Argentina's first instance of populism, marking a break from liberal economic policies.
Yrigoyen returned to power after a period under Marcelo T. de Alvear and was later ousted. Milei cited the Rental Law, which restricted property owners' rights, as an example of populist overreach that weakened the economy.
Milei's administration has implemented extensive liberalizing reforms, drastically reducing regulations, controls and government subsidies. Recent reports have documented rising unemployment, falling wages and business closures under his policies. In an April interview with The Economist, the magazine described Milei's experiment as "struggling." Milei has dismissed these concerns, asserting his reforms are necessary for long-term prosperity.
