Argentina’s new President Javier Miley announced on Wednesday the revision or repeal of more than 300 regulations to deregulate the country’s economy, as well as the privatization of all state-owned companies.
The reform, which Miley announced in a speech broadcast live on Argentine radio and television, includes housing laws “so that the real estate market works well again and so that renting is not an odyssey.”
The economist also announced “modernization of labor laws to facilitate the creation of real jobs”, changes to company law so that football clubs can transform into public limited companies, as well as a long series of other measures in the tourism, satellite communications and other sectors. d. Internet, pharmacy, viticulture and international trade.
The head of state also promised to abolish the regime for state-owned companies and provisions that prevent the privatization of state-owned companies.
The ultra-liberal economist, elected in November, has said he wants to convert all state-owned companies into public companies as a first step toward their “event privatization.”
Miley announced during the election campaign his intention to put Aerolíneas Argentinas airline and oil company YPF, two giants of the South American country’s economy, up for sale.
The plan’s goal is to “dismantle the vast amount of regulations that have hindered, impeded and held back economic growth” in Argentina, Miley said.
The president promised to lay “the foundations for the recovery of the Argentine economy and restore the freedom and autonomy of the people, removing the state from above.”
Miley announced that in the coming days, “extraordinary sessions” of the National Congress will be convened and “a package of laws will be sent to accompany these reforms and advance the process of change.”
Miley’s far-right party, La Libertad Avanza (Freedom Advancement), has just 40 seats out of 257 in the lower house of the Argentine parliament and just seven seats out of 72 in the Senate, the upper house.
On December 12, Miley had already announced the first round of austerity measures, including a devaluation of more than 50% of the Argentine peso and cuts in transport and energy subsidies starting in January.