BUENOS AIRES, Argentina (AP) — A walloping at the polls has led President Mauricio Macri to decree economic relief for poor and working-class Argentines. The measures include an increased minimum wage, reduced payroll taxes, a bonus for informal workers and a freeze in gasoline prices — at least temporarily.
The conservative leader said Wednesday he’s acting in recognition of the “anger” Argentines expressed in Sunday’s primary election, when Macri trailed his leftist rivals by 15 percentage points. The general election is in October.
In his words, “I’ve heard what you wanted to tell me on Sunday.”
The fuel freeze will last 90 days. Other measures will extend for several months.
Investors frightened by leftist gains sent Argentina’s stocks, bonds and currency tumbling.
The currency continued to slip after Wednesday’s announcement.