Milei Calls for Signing a Political Pact on July 9 to Establish a Common Roadmap

The “May Pact” includes a set of ten key points, starting with the inviolability of private property. It also deems achieving fiscal balance as “non-negotiable” and aims to reduce public spending to below 25 percent of GDP.

On Thursday, President of Argentina Javier Milei issued a new call to all state institutions, including regional governors and former presidents, to sign the “May Pact” on July 9. This set of commitments aims to establish a common roadmap for the current government.

Milei used his Flag Day speech during an event in Rosario to appeal to the public with the vision of “a prosperous and free Argentina.” He called for unity among “all those who understand that Argentina must once again embrace the ideas that made it great.”

The “May Pact” includes a set of ten key ideas, with the inviolability of private property as the first point. It also considers achieving fiscal balance as “non-negotiable” and aims to reduce public spending to below 25 percent of GDP.

In fiscal matters, it proposes a tax reform to reduce pressure and “simplify life,” and to review federal revenue sharing to “end the current extortionate model once and for all.” It advocates for a “modern” labor reform and changes to the pension system to ensure sustainability and promote enrollment in private schemes.

Milei is also seeking “a commitment from the provinces to advance the exploitation of the country’s natural resources” and a commercial boost to make Argentina “a key player in the global market” once again.

In terms of political administration, the list includes a “structural” review to “realign the interests of representatives and the represented,” without mentioning any specific changes.

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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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