Argentinian President Javier Milei continues his efforts to cut government and subsidies and help free the country's economy in an effort to deal with skyrocketing inflation and economic woes, according to reporting by AP and France 24.
Among the steps Milei took today were earmarking government-owned companies for privatization and loosening or eliminating regulation of rent, labor, and purchases.
In order to take effect, the rules need to be published in the government gazette and assessed by a joint committee of lawmakers from both Argentinian parliamentary houses. They can only be rejected if both houses decide to do so.
Milei won election amidst a great deal of discontent with the economic situation, and he remains steadfast in his opposition to changing course despite vocal protests. Among other things, protestors have been threatened with losing their government support if they block traffic, which seems to have worked in the most recent demonstration.
Milei has also devalued the Argentinian Peso by 50%, eliminated some government ministries, and removed energy and transportation subsidies, thus making good on his promise to give Argentina painful "shock" treatment meant to lead to long term gain at the expense of short term pain.
