00:00Malay's austerity measures included slashing energy and transport subsidies,
00:04laying off tens of thousands of government workers, and freezing wages and pensions.
00:09Monthly inflation has tumbled from more than 25 percent when he took office,
00:13to close to 3 percent, its lowest in three years.
00:16And Malay's polling numbers, which have remained high, are still rising.
00:21Some analysts say that Malay has managed to pull off a near miraculous feat.
00:25Argentina's long mismanaged economy is starting to boom,
00:28with its mobile stock index soaring almost 140 percent this year.
00:33And the peso currency has strengthened in some markets.
00:37But brutal austerity has sunk the country into a deeper recession.
00:41Consumer spending has shrunk by 20 percent.
00:44There's been a rise in unemployment, while poverty rates have reached a 20-year high.
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