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Runoff election in Argentina: Sergio Massa surprisingly leads against favorite Javier Milei | Financial expert
According to a report by n-tv.de, Economy Minister Sergio Massa surprisingly won the first round of the presidential election in Argentina. With around 36 percent of the vote, Massa was able to win over the most voters. The favorite, Javier Milei, a libertarian populist, came in second place with 30 percent of the vote. The former Interior Minister Patricia Bullrich only achieved just under 24 percent. This will probably lead to a runoff election between Massa and Milei. Argentina is currently in a deep economic crisis with high inflation, high poverty and a declining national currency. The impact of this election on the market and financial sector in Argentina...
Runoff election in Argentina: Sergio Massa surprisingly leads against favorite Javier Milei | Financial expert
According to a report by n-tv.de, Economy Minister Sergio Massa surprisingly won the first round of the presidential election in Argentina. With around 36 percent of the vote, Massa was able to win over the most voters. The favorite, Javier Milei, a libertarian populist, came in second place with 30 percent of the vote. The former Interior Minister Patricia Bullrich only achieved just under 24 percent. This will probably lead to a runoff election between Massa and Milei. Argentina is currently in a deep economic crisis with high inflation, high poverty and a declining national currency.
The impact of this election on Argentina's market and financial industry could be significant. Investors and the public will closely monitor the two candidates' economic plans as they represent different approaches. Milei, the self-proclaimed “anarcho-capitalist,” has proposed radical measures such as the abolition of the central bank and ministries, as well as drastic cuts in social spending. Massa, on the other hand, increasingly relied on government spending during his election campaign to satisfy voters.
The runoff election will therefore be of great importance as it will determine the future course of the Argentine economy. If Milei wins and puts its plans into action, it could lead to liberalization of the financial sector and increased attraction of foreign investment. On the other hand, Massa's previous government spending could provide short-term economic relief, but lead to increased debt and dependence on the state in the long term.
It remains to be seen how the runoff election will develop and which candidate Argentines will ultimately choose. Regardless, the winner will face major challenges in stabilizing the country's economy and regaining investor confidence.
Source: According to a report by n-tv.de, link
Read the source article at www.n-tv.de