Javier Milei Signs Executive Order Weakening or Ending 350 Socialist Policies

Argentina's President Javier Millay announced on national television on Wednesday night that he had signed a Decree of Emergency Necessity (DNU), a type of executive order. Estimation 350 Federal Economic Policy.

President Millei's executive orders target nearly every aspect of Argentina's economy, including imports, price controls, health care, sports federations, landlord-tenant policies, and the Yerba mate tea industry, and he imposes a “shock stabilization plan” He explained that it was an attempt. To prevent financial crisis. Argentina is facing its worst economic crisis in history, as a result of decades of socialist policies, lavish government spending and corruption, resulting in soaring poverty, unemployment and inflation.The country's inflation rate has reached 160 percent A few days after Millais' inauguration ceremony on December 10th.

Milley, a libertarian economist, ran as a socialist candidate in the Nov. 19 presidential election on a platform promising broad economic deregulation, a sharp reduction in the size of government, and a foreign policy centered on an alliance between the United States and Israel. He decisively defeated former Economy Minister Sergio Massa. rather than China and Russia, which were pursued by the previous administration.

Then presidential candidates Javier Millay and Sergio Massa (Luis Robayo – Pool/Getty Images)

“Today is a historic day for our country. After decades of failure, poverty, decadence and anomie, today we officially begin the path to rebuilding,” Millais said in a speech Tuesday. It was announced as follows.

“We have developed a shock stabilization plan that includes a fiscal adjustment plan, an exchange rate policy that adjusts the exchange rate to market value, and a monetary policy that includes the destruction of the central bank,” he announced, flanked by his cabinet. “We are doing everything we can to reduce the tragic impact of what could be the worst crisis in our history, the product of decades of governments insistent on using failed recipes.” We are doing our best.”

“As we've been saying for months, it's not the chefs, it's the recipes,” he continued. “Ideas that fail in Argentina are the same as ideas that fail widely around the globe. They fail economically, socially and culturally where they were intended, and what's more, they cost millions of human lives. sacrificed.”

“This doctrine, which some call left-wing, socialism, fascism, or communism, but which we prefer to classify as collectivism, is a way of thinking that dilutes the individual in favor of state power,” Millais explained, adding: .

It is the basic basis of the caste system. This is an idea based partly on the idea that the rationality of the state is more important than the individuals who make up the state.that individuals are recognized only if they submit to the state, and that citizens therefore have a duty to respect the state [the state’s] Representatives of political castes.

Millay argued that politicians “not only are not God, they are the cause of our problems” and listed 30 of the hundreds of reforms they have made. DNU on page 83.

of presidential order declare The country's economic “state of emergency” officially began on Tuesday and is scheduled to end on December 31, 2025. As a result of that emergency, significant changes in Argentine law were enacted.

Millais repealed several laws that allowed the state to control the prices of various goods and services. The Rent Act, which greatly restricted the types of rental agreements that landlords and tenants could enter into, no longer exists.argentina outlet infobae He pointed out that rents in Argentina rose 300 percent year-on-year in 2023 under the rental law, despite Socialist Party lawmakers' insistence on keeping rents low.

The executive order also abolished the Handicraft Price Control Law, regulations governing local land purchases, and the federal price monitoring agency “to avoid persecution of businesses.” Customs regulations governing imports and exports will also be significantly reduced, and there will be no national register of importers and exporters, although the DNU notes that Argentina is one of the few countries in the world with such a register. did. Milley's executive order also addresses internet access and includes significant deregulation of telecommunications.

The regulations targeted some of Argentina's biggest industries, including winemaking and the cultivation of yerba mate, a plant used to make Argentina's popular hot herbal drink, freed from a strict national regulatory system. . This order called for the modernization of the National Yerba Institute to limit the use of quality control regulations to suppress the industry. Similar amendments were made to mining, aviation and sugar policies. When it comes to health care, the executive order significantly eases regulation of the pharmaceutical industry, expands Argentines' access to generic medicines, and provides electronic access “to increase the industry's agility and minimize costs.” Enables expanded use of prescriptions.

The changes announced on Tuesday are the second wave of reforms in Millais' 10 days in office. On December 12, Mirei's Economy Minister Luis Caputo announced that the government would significantly devalue the Argentine peso from 366 pesos to 800 pesos to the US dollar. He announced that this step was necessary to reverse the artificial overvaluation of the peso under the previous socialist government. But to help Argentine families, Mr. Caputo also increased the amount given to families in Argentina's child tax credit to bring it closer to inflation, although it is not completely up to date.

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