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[Argentina] President Milei’s radical state overhaul officially becomes law after months of debate and protests (apnews.com)

submitted 1 month ago by [email protected] to c/[email protected]

6 comments fedilink

BUENOS AIRES, Argentina (AP) — Argentina’s lower house on Friday approved President Javier Milei’s sweeping economic overhaul bills, sealing a much-needed legislative victory for the libertarian leader after six months of bruising battles and raucous protests that had raised questions about his ability to govern.

Milei’s landmark legislation, which seeks to support his “zero fiscal deficit” plan and attract foreign investment, passed a final vote in the lower house to become law on Friday.

The approval — widely expected after the bills squeaked through the Senate earlier this month despite fierce political opposition — strengthens the president’s hand at home and abroad as economic pressures mount. Milei rode to power on a promise to pull Argentina out of a dire economic crisis that has deepened poverty and driven annual inflation near 300%.

Milei’s administration hailed the law’s passing as setting Argentina “on the path toward the free and prosperous country that Argentines chose” in last November’s election. The government blamed the turbulent process on “obstructionism” by Milei’s hard-line opponents.

Milei’s party controls less than 15% of congressional seats and has so far relied on executive powers to slash public spending and impose the president’s radical small-state vision. Analysts have said that only congressional approval could offer Milei the support he needs to boost investor confidence in Argentina, a country with a long history of defaulting on payments and breaching contracts.

Argentine Congress seals 1st legislative win for President Milei after months of debate and protests (apnews.com)

submitted 1 month ago by [email protected] to c/[email protected]

0 comments fedilink