President-elect Javier Milei vows to 'end decline of Argentina'

Argentina's president-elect Javier Milei on Sunday vowed an end to the country's decades of economic decline, as annual inflation stands at 143 percent.

He promised to return Argentina, one of the richest countries in the world a century ago, to its former glory, after decades of stagnation, mostly under the populist Peronist coalition -- big on welfare and government spending.

Speaking after a resounding election victory he vowed "a limited government, respect for private property and free trade. The model of decadence has come to an end. There is no way back.


"Today begins the reconstruction of Argentina. Today begins the end of Argentina's decline. Today ends the impoverishing model of the omnipresent state, which only benefits some while the majority suffers."

Milei listed the country's multiple woes, which include poverty levels of 40 percent, and increasing insecurity, saying they "only have a solution if we once again embrace the ideas of freedom."

He vowed to "work side by side with all nations of the free world to help build a better world.

"Today one way of doing politics has ended and another begins. Despite the gloomy situation, I want to tell you that Argentina has a future. That future exists, if that future is liberal."

"There is no room for gradualism, there is no room for lukewarmness or half-measures."