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Argentina’s new libertarian President Javier Milei issued a sweeping emergency decree on Wednesday night that mandated more than 300 measures to regulate the country’s economy.
The decree hits key regulations, including Argentina’s housing rental market, export customs arrangements, land ownership, food retailers and more. It modifies rules for the airline, healthcare, pharmaceutical and tourism sectors to encourage competition. Employee severance packages will be reduced and probationary periods for new employees will be extended.
The new rules also change the legal status of the country’s state-owned companies, which include airlines, media companies and energy group YPF, allowing them to be privatized.
“Today we are taking our first step to end Argentina’s model of decline,” Miley said in a pre-recorded broadcast. “I have signed an emergency order to begin dismantling the oppressive institutional and legal framework that has destroyed our country.”
The decree marks Miley’s campaign promise of a sharp break from the sweeping regulations, high taxes and expansive public sector introduced by the left-leaning Peronist movement over the past two decades. Its implementation, however, could set the libertarian up for clashes with the Peronists and their allies in Argentina’s powerful unions.
After the broadcast, some residents of Buenos Aires smashed pots and pans on their balconies. Hundreds of protesters staged an emergency rally outside Argentina’s congressional building, chanting “Our country is not for sale!”
Earlier in the day, the first major protest against Miley’s presidency took place in downtown Buenos Aires, where left-wing campaign groups gathered thousands of demonstrators and called for “an end to Miley.” . . Chainsaw Savings Program”.
Milei’s Economy Minister Luis Caputo last week announced cuts to energy subsidies, the layoff of recently hired public sector workers and a reduction in real terms of the budget of a significant social program.
Barronist politicians accused the president of issuing new orders by decree to avoid votes against them in Congress, with the La Libertad Avanza coalition holding just 15 percent of the lower house and less than 10 percent of the Senate.
Under Argentina’s constitution, presidents can issue “decrees of urgency and necessity” in most areas of policy — except for tax, penal and electoral matters and rules for political parties — “when exceptional circumstances make it impossible to follow normal procedures.” The orders remain in effect until both houses of Congress vote to strike.
Germán Martínez, leader of the Peronist Union Por La Patria constituency, which has 40 percent of the seats, argued at X on Wednesday afternoon that parliamentary sessions should be called for debate. His actions as bills. “Don’t be afraid of democratic debate,” Martinez added.