The President of Argentina declares that he “doesn’t need Congress to save the economy.”

Following the failure of the deregulation law in the economy and controversies surrounding a presidential decree aimed at liberalization, President Javier Milei asserted that he doesn’t require Congress to rescue the economy.

He warned that those who vote against it “will be enemies of change” and hinted at “reforms through decree.”

The president made these remarks during an interview with the British media outlet Financial Times, which was published this Thursday, the day before he delivers his opening speech to the legislative assembly.

“There are other reforms that we can enact by decree, changing the application of laws, and we will do all of that,” he warned during the interview.

In this regard, he noted that about a third of the 1,000 proposed reform measures in the mega-decree are in effect unless the Chamber of Deputies and the Senate reject them.

“But while the Congress has its current composition, we believe that passing reforms is difficult because what became clear (with the economic reform bill) is that politicians have no problem in harming the interests of Argentinians to maintain their privileges,” he asserted.

While admitting that “in the long term, Congress is needed,” he insisted that historically low levels of investment in the country meant that companies could achieve significant returns in the short term with only small capital outlays.

Furthermore, he announced that he will continue to send reforms to Parliament to expose those he refers to as part of the political “caste.” “Those who vote against will be identified as enemies of change,” he declared.

This is not the first time President Milei has targeted legislators who opposed his reforms in the chamber. Days ago, following the rejection of the so-called Deregulation Law, he referred to Congress as a “nest of rats” and described politicians as “garbage that people despise.”

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Ignacio Teson
Ignacio Teson
Economist and Financial Analyst
Ignacio Teson is an Economist and Financial Analyst. He has more than 7 years of experience in emerging markets. He worked as an analyst and market operator at brokerage firms in Argentina and Spain.
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