2023-12-21 03:11:15
Published21. December 2023, 04:11
Argentina: New President announces decree for comprehensive deregulation
Javier Milei wants to abolish over 300 existing regulations. This includes, among other things, labor law, tenancy law and the privatization of state-owned companies.
Javier Milei wants to pull Argentina out of the crisis with massive deregulation.
AFP
That’s what it’s about
-
Javier Milei is the new Argentine president – he calls himself an “anarcho-capitalist”.
-
On Wednesday he announced that he would begin massive deregulation of the economy.
-
The new government has already devalued the local currency, the peso, by more than 50 percent.
The new Argentine President Javier Milei has announced a decree for comprehensive deregulation of the South American country’s economy. The aim is to abolish or reform 300 existing regulations, as the ultra-liberal right-wing populist said in a televised speech on Wednesday. This includes, among other things, labor law, tenancy law and the privatization of state-owned companies.
“Give back freedom and autonomy”
“The goal is to set out on the path to rebuilding the country, give people back their freedom and autonomy and begin to dismantle the huge number of regulations that have held up, disrupted and prevented economic growth in our country,” said Milei.
Among other things, a law regulating rents is to be abolished. The real estate market must function “without problems” again so that the search for an apartment does not resemble an “odyssey,” said Milei. The privatization of state-owned companies such as the oil company YPF and the airline Aerolíneas Argentinas should also be made possible. A reform of labor law should make it easier to create “real jobs”. Sectors such as health, tourism, internet and trade should also be deregulated.
Milei wants to “shock therapy” Argentina
Milei, who was elected in November, promised the heavily indebted country the prospect of “shock therapy” when he took office on December 10th. The 53-year-old political newcomer took over Latin America’s third-largest economy in the midst of a severe economic crisis: inflation has risen to more than 160 percent and more than 40 percent of the population lives in poverty.
The new government has already devalued the local currency, the peso, by more than 50 percent. The first demonstrations against Milei took place in the capital Buenos Aires on Wednesday.
Don’t miss any more news
With the daily update you stay informed about your favorite topics and don’t miss any news about current world events.
Receive the most important things, briefly and concisely, directly to your inbox every day.
(AFP/sys)
1703138579
#Argentina #president #massively #deregulate #economy