Argentina sells off 400 state buildings to cut costs
Argentina is set to auction more than 400 state-owned properties as part of a government plan to cut public expenses and generate about $800 million, officials announced on October 26.
Another 800 properties will also be put up for sale under the same initiative, according to a statement by Presidential Spokesman Manuel Adorni.
“The goal is to reduce unnecessary expenses,” Adorni was quoted as having said at a press conference.
He indicated that many of these buildings were former government institutions which were downgraded by President Javier Milei after he took office.
This includes the former headquarters of the former Women, Gender & Diversity Ministry, located in Buenos Aires’ San Telmo valued at an estimated $12.5 million.
Upon taking office, the president replaced the ministry, established in 2019 by former President Alberto Fernández, with a sub-secretariat under the Justice Ministry.
Other unused buildings, buildings which are in poor condition, or have high maintenance costs will also be sold by Milei’s government.
