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Argentina is set to witness a major demonstration as public universities, unions, and opposition parties come together to protest significant cuts in public spending by President Javier Milei. The protest is in response to the government threatening to veto a law passed to secure university funding, amid soaring Inflation and widespread poverty in the country.
Ricardo Gelpi, rector of the University of Buenos Aires, criticized the government for its systematic efforts to undermine public education, accusing them of neglecting the importance of education, science, and societal well-being. Despite claims of budget cuts being necessary to achieve fiscal balance, critics argue that Milei’s policies have disproportionately impacted vulnerable populations and essential sectors like health and education.
The government maintains that public university funding has not been slashed and emphasizes a need for better resource management. However, universities report a significant decline in purchasing power for teachers and staff, leading to financial struggles and a threat of falling below the poverty line.
Previous protests have compelled the government to reconsider budget cuts, but concerns remain about the adequacy and fairness of the proposed adjustments. The ongoing debate highlights the tensions between economic austerity measures and the societal impact on education and welfare in Argentina.
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Emma Collins, graduated in Financial Economics from the University of Chicago in the USA in 2016. She has since worked at an asset management firm in New York, where she specializes in investment strategies and portfolio management. Emma has a keen interest in financial analysis and has published several articles in renowned financial journals. Her work focuses on providing actionable insights to investors, and she is known for her forward-thinking approach to managing financial portfolios.