Argentine President Javier Milei this week unveiled a megadecree to change or abolish 366 economic rules in a country – Digital Journal reports.
Ten days after taking office, Milei presented his “necessary and urgent” decree to loosen some of the rules governing the country’s economy as annual inflation reached 160%.
It refers to many changes such as removing all restrictions between tenant and landlord such as rent increase laws, removing export restrictions and liberalizing the internet market, limiting the right to strike enshrined in the constitution.
In addition, an important change is the relaxation of labour laws: the probationary period for new employees has now increased from three to eight months, but also the laws on compensation for dismissal without cause have been changed in favour of companies.
Milei has also abolished rules preventing the privatization of state-owned enterprises and is already targeting national airline Aerolineas Argentinas and oil company YPF.
He characterised the start of his activity as follows:
The goal is to begin the path of reconstruction of the country, to return freedom and autonomy to individuals and begin to dismantle the enormous amount of regulations that have stopped, hindered and impeded economic growth.
The opposition condemned Millet for the decree and sees it as a way to circumvent the lack of a majority in Congress.
“This is not the way. Send the reforms as bills. Do not be afraid of democratic debate,” said German Martinez, parliamentary chief for the Peronist coalition Union for the Homeland.
Constitutional lawyer Emiliano Vitaliani told AFP that the country’s highest laws state that “in principle laws cannot be modified by decree and the president cannot replace Congress.”
However, the decree could be overturned if it is rejected by both houses of Congress, Vitaliani said, but if passed it would take effect on December 29.
