Argentine President Javier Miley announced this Wednesday evening a plan that calls for the reform of more than 300 regulations in order to lay “the foundations for the reconstruction of the Argentine economy and return freedom and autonomy to the people, depriving the said State.” »

With the avowed goal of “making Argentina a global power,” the ambitious plan aims to “dismantle the vast array of regulations that have prevented, hindered and stunted our country’s economic growth,” he said on national television. Radio and television of the President of Argentina.

Miley announced that in the coming days, “extraordinary sessions” of the National Congress will be convened and “a package of laws will be sent to accompany these reforms and advance the process of change.”

The Decree of Urgency (DNU) aims to convert “all” state-owned companies into public companies for their “later privatization” in order to deregulate the country’s economy.

Privatization of state companies

The package, which Miley will send to parliament for approval, includes the abolition of the state-owned companies regime and regulations preventing the privatization of public companies.

“We have the worst inheritance in history,” lamented Argentina’s head of state – the country’s first-ever economist – as he announced a plan to end budget deficits, an endemic scourge in the South American country.

Among the burdens received from governments of recent years, mainly of a Peronist nature, Miley named “a consolidated deficit of 15% of GDP, the highest tax pressure in the world, a lack of reserves in the Central Bank, confidence destroyed by credit.” , unbridled money creation and an annual inflationary crisis of 15,000%.”

He also complained about “serial cheaters” who removed thirteen zeros from the peso and destroyed five other national currencies, “two hyperinflationary crises without wars, 50% of the population below the poverty line, 10% of the population poor and five million Argentines who do not have enough to eat “

The government’s program includes repealing the Rental Law, allowing football clubs to become public limited companies if they wish, and allowing full or partial transfer of Aerolíneas Argentinas’ shareholding.

Extraordinary sessions of Congress

The order, which will be sent to Congress for approval in a special session, also would repeal the Supply Act, which penalizes companies if there are shortages of certain products, and repeal the Gondola Law, which requires supermarkets to offer a minimum of products made by small companies.

In addition, the measures announced on national radio and television include reform of the Customs Code to “facilitate” international trade and that “export bans are prohibited,” according to Miley.

The impact of Miley’s package of economic deregulation and public sector privatization was felt on the streets of Buenos Aires, where residents of some neighborhoods staged protests from street corners, windows and balconies, banging pots and other household utensils.

“Move away!” rang out on the streets of the Argentine capital, where just a month ago the then presidential candidate of the Libertad Avanza party was almost twelve points ahead of the official candidate and then Minister of Economy, Sergio Massa. .

EFE verified that the protest was heard in several areas of the city, including some of the wealthiest such as Palermo and Belgrano, as well as more modest areas such as Cabalito, Almagro and Avellaneda.

The announcement of the government’s shock plan came on the same day that some 3,000 people, called by social and left-wing organizations, took to the streets of the Argentine capital to demonstrate their rejection of the policies of an ultra-liberal president who has been in power for ten years. he is promoting an austerity plan through which he seeks to reverse the endemic ills of the country’s economy. EFE