The new president of Argentina Javier Milei has signed a decree that will introduce more than three hundred radical economic reforms. This was reported by UNN with reference to the Financial Times .
Details
In particular, Argentina will change the rules of the lease market, land ownership, retail and export markets.
Milei also wants to increase competition in the aviation, pharmaceutical, and tourism sectors. Severance payments to employees will be reduced, and the probationary period for new employees will be extended.
Mainly, Milei's decree also changes the legal status of state-owned companies and now allows them to be privatized. In the past, Milea, a self-described anarcho-capitalist, has said he favors privatizing the state oil company YPF.
This is just the first step. The goal is to restore freedom and autonomy to people and start eliminating the huge number of regulations that have been hindering economic growth
Addendum
The decree marks the realization of Milei's campaign promise to break with extensive regulation, high taxes, and a sprawling public sector.
However, such radical reforms have caused dissatisfaction among Argentina's left-wing parties and trade unions.
After the president's televised address and announcement of sweeping reforms , some Buenos Aires residents banging pots and pans on their balconies in protest. Hundreds of protesters took to an impromptu rally outside Argentina's congress building, shouting: "Our country is not for sale!".
Recall
Argentina's new president, Javier Millay , introduced a significant austerity plan during his first week, including reducing the number of ministries and planning cuts in the public sector.