Argentine President Mauricio Macri has announced a series of “relief” measures, days after a defeat at the polls triggered economic turmoil.

In a televised speech, he announced income tax cuts and increases in welfare subsidies. Petrol prices will be frozen for 90 days, he added.

Mr Macri said the measures would help 17 million workers.

The move comes after opposition centre-left candidate Alberto Fernández won presidential primaries at the weekend.

The result dealt a severe blow to Mr Macri’s chances of re-election. On Monday, the Argentine peso and stock markets plunged over concerns that Mr Fernández could take Argentina back to populist economic policies.

The peso fell again on Wednesday following President Macri’s attempts to shore up support.

Is this the end of Macri’s vision for Argentina?

Mr Macri was elected

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