Tomorrow is the fateful day for TL’s rival

Argentina, a Latin American country, will go to the polls tomorrow for the general elections. As a result of the elections that will be held in the shadow of the economic crisis, the country’s new president will be determined.

The electoral race is expected to be between Javier Milei, the far-right populist candidate who obtained the most votes in the primary elections held on August 13, Patricia Bullrich, candidate of the main opposition alliance, and the current Minister of Economy , Sergio Massa, the candidate of the ruling “Peronist” alliance.

In electoral research by many polling companies, Milei’s average vote appears to be 34.6 percent, while Massa’s average vote is 30.4 percent and Bullrich’s average is 26.1 percent. .

According to the country’s electoral law, to be elected president, a candidate must receive 45 percent of the valid votes in the first round or have a 10 percent lead over his closest rival.

If this does not happen in the first round of the elections, people will go to the polls again on November 19.

THE CURRENCY WILL ALSO BE VOTED

In the country with the third highest official inflation in the world (138 percent), the currency will also be voted on in tomorrow’s elections.

Javier Milei, who surprisingly came first with 30 percent of the vote in the primary elections, promises to close the Central Bank of Argentina and remove the peso from circulation if elected.

Milei, 52, who promises to abandon the local currency and make the US dollar the official currency, as El Salvador and Ecuador did 20 years ago, is compared to the far-right former president of the United States, Donald Trump, both in her physical features and in his political line.

Milei, who also has promises such as relaxing restrictions on civilian weapons and freeing up the organ trade, is ahead in the polls.

Former television star Milei emphasizes that some ministries must be closed, all state-owned companies privatized and public spending reduced.

Milei, whose popularity is rapidly increasing among masses dissatisfied with the current situation, said that if elected he will make “radical changes” that have not been seen in Argentina.

Bullrich, 67, leader of the Together for Change coalition, which came second in the primaries, promises a tough fight against criminal organizations and cuts in public spending.

Other candidates besides Milei oppose changing the dollar as currency.

THE ECONOMIC CRISIS CAN DETERMINE THE OUTCOME

In statements to the Argentine press, political analyst Nacho Montes maintained that the economic crisis and the great depreciation of the Argentine peso will have an impact on the electoral preferences of the people.

Stating that the country is going through a “deadly crisis,” Montes said: “Right now it is difficult to determine who will win or if the results will go to the second round, and even prediction seems complicated. “A great mystery may emerge from this crisis environment.” he said.

In the news published yesterday in Bloomberg titled “Inflation at 130 percent is pushing Argentina towards a radical path,” it was noted that Milei’s promise to switch to the dollar was fulfilled by the public, but there are great uncertainties about the plan.

The news said that Milei initially needed at least $40 billion for dollarization, but it was unclear where to find that money, and pointed out the size of the amount of foreign currency that Argentines have outside the banking system and the country.

500 BILLION DOLLARS UNDER THE PILLOW OR ABROAD

It was also reported in Bloomberg that residents of Argentina keep $246.8 billion under their pillows or in locked safes, and $261.1 billion outside the country, and that the foreign currency is used in imported products, luxury restaurants and sectors. real estate in the country. country.

In a country where there is no trust in the banking system, people do not keep their currencies in banks.

The Argentine peso, which is one of the currencies that has lost the most value against the dollar in the world in the last 10 years, generally competes with the TL in depreciation.

Although the official dollar/peso exchange rate in the country is 350, the black market exchange rate is said to be 1000. There are many different exchange rates in the country.

Although the exchange rate and inflation have skyrocketed with the policies implemented in Turkey in recent years, the situation is still not as serious as that of Argentina.