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Financial News: ARGENTINA: Macri Announces 25% Slash In Government Jobs

ARGENTINA: Macri Announces 25% Slash In Government Jobs That Require Nomination

01/29/2018 - 14:27:00 (RTTNews)

(RTTNews) - Argentine President Mauricio Macri announced a state reform which includes a 25% reduction in the political positions in the Executive Power, a wage freezing for government officials in 2018, and the prohibition for ministers' relatives to work in political positions.

According to Macri, the move should lead to a reduction of around 1,000 positions, and a savings estimated at 1.5 billion pesos (US$ 76.84 million) per year. Macri's moves are in line with his plan to reduce the fiscal deficit.

After taking part in the Davos' World Economic Forum, Macri said that "if the Argentines are making their contribution, the political class must set the example."

"The austerity has to start from politics," added the president, while inviting provinces and municipalities to emulate the national government's moves.

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