Argentine President Javier Milley’s Economy reform Signed into law and effective immediately on Monday, Marked the beginning of an era of privatization and deregulation aimed at reviving the country’s struggling economy.
Milley, along with cabinet minister Guillermo Franco and Economy Minister Luis Caputo, sign This morning’s comprehensive reform package and its accompanying fiscal package.
“Argentina is plunged into an unprecedented serious and profound economic, financial, fiscal, social, pension, security, defence, tariff, energy, health and social crisis, affecting all levels of society and the functioning of the country.” Omnibus bill state. This wide-ranging document consists of more than 200 articles that broadly deregulate and reform these industries.
The first measure of the bill Empowerment Mire declared a state of emergency for “administrative, economic, financial and energy matters” for one year. It also includes a number of measures aimed at increasing “bureaucratic efficiency” and transparency. For example, if the government fails to respond to citizen requests within a certain time frame, it forces automatic approval.
Other key aspects of the bill include relaxing labor protections, probation periods for new employees, dismantling federal agencies, privatizing dozens of public companies, and introducing tax and foreign exchange incentives to attract investment.
Six months after taking office, Milley finally has the legislative tools he needs to campaign promise Deregulation and deficit reduction. But the achievement came only after months of battles with Congress, heated debates and violent protests.
Milley first submitted his reform package to Congress in December last year, but it was rejected in February. Congress approved it in April after revising the plan and reducing the number of provisions from 600 to 232. The Senate narrowly Passed The bill passed in June amid widespread violent protests urging lawmakers to reject the proposal.
The current reform package represents only about 20% The Milais government believes structural reforms are necessary to repair the country’s problems. But with these initial reforms now becoming law, Milley has announced “phase two” of his fight against inflation and deficits.
On Friday, Mire established the Ministry of Deregulation and National Transformation, headed by former central bank governor Federico Stulzinger. the ministry, Report nation, Designed to reduce public sector employment, eliminate bureaucracy, and privatize certain state-run activities, including public works. The ministry’s first priority is to remove or amend a set of regulations, namely “Defoliation Method,”This hinders the functioning of the economic system.
Millais invited the top Politicians from across the country traveled to San Miguel de Tucumán to sign a ten-point agreement aimed at helping “Argentina move forward”. this “May Contract” Book signing tonight at midnight The historic site where the Argentine Declaration of Independence was signed 208 years ago.
contract include A commitment to private property and a “non-negotiable fiscal balance”, reducing public spending, improving the public education system, tax reforms to “reduce the tax burden”, labor reforms to “promote formal employment” and opening up to international trade are among other measures.
However, some governors, Supreme Court members, former presidents and other lawmakers have indicated They reportedly either will not attend the meeting or do not intend to sign Milei’s statement information base.
