Measures include an end to privatization restrictions and new rules on rents and product supply; also converts all Argentine clubs into SAFs

The president of Argentina, Javier Milei, announced this Wednesday (Dec 20, 2023) an economic deregulation package. The document will repeal around 300 laws. The measures include price increases and the end of rules that limit exports and privatizations. The decree will come into force on Thursday (Dec 21, 2023).

“Today we formally begin the path of reconstruction”said Milei in her first statement on national television since taking office.

Watch Milei’s speech (15min19s):

According to him, it is necessary “contain the huge crisis” that he inherited. He called the country’s current financial situation “worst crisis in history”.

The package was called DNU (Decree of Necessity and Urgency) and defined as the “1st step to end decadence” of decades in the country: “The country was on its way to collapse with inflation of 15,000%. I signed a DNU to dismantle the oppressive legal framework that brought decadence to our country”.

Among the repealed laws are:

  • Gondola Law – forced supermarkets to display on the shelves products manufactured by small companies and with lower prices in regular consumption categories;
  • Rent Law – regulated property rental negotiations, and in its most recent version prohibited contracts in dollars;
  • Supply Law – allowed the government to take measures on prices, such as setting maximum values ​​and sanctioning companies that increased prices without justification.

The decree also converts all Argentine clubs into SAFs (Football Joint Stock Companies).

“It’s just the 1st step, in the next few days we will call extraordinary sessions of the National Congress and send a package of laws asking Congress for collaboration to advance this process of change”said Mile.

Milei’s speech was recorded in the early afternoon in the White Room of Casa Rosada and lasted around 15 minutes. He was accompanied by his ministers.

Protests against Milei

This Wednesday (Dec 20, 2023), left-wing movements protested in the center of Buenos Aires against economic measures by the Milei government.

The act that followed the march from the Argentine Congress to Plaza de Mayo had a ratio of 1 police officer for every 2 protesters.


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