Wednesday, July 24, 2024

ECONOMY | 20-12-2023 23:58

Milei's top 30: Economic reforms outlined by president in speech

President Javier Milei outlines 30 key reforms he proposes to deliver in a sweeping reform blitz aimed at deregulating Argentina's economy and modifying labour and rent legislation.

President Javier Milei said Wednesday night in a nationwide broadcast that his government will seek a reconstruction of Argentina’s economy.

After referring to the Plan of Stabilisation announced by Economy Minister Luis Caputo in the previous week to end the fiscal deficit, “the origin of the problem and the prime source of inflation,” as the president put it, Milei said that he would implement massive reform by a DNU emergency decree containing over 300 reforms. 

He further anticipated that in the next few days he would be summoning extraordinary sessions of Congress and sending it a package of laws “to accompany these reforms and advance in the process of change.”

The head of state said his move to reconstruct the economy is based on a belief that it is necessary to “restore liberty and autonomy to individuals, getting the state off their backs and dismantling the enormous quantity of regulations which have prevented, hampered and stopped the economic growth of our country.” 

Milei proceeded to summarise his reforms in the following 30 points:  

  1. Repeal of the Rental Law so that the real-estate market can function without problems again and so that renting a flat is no longer an odyssey.

  2. Repeal of the Anti-Hoarding Law so that the state never again attacks the property rights of individuals.

  3. Repeal of the Law of Supermarket Shelf Display so that the state ceases meddling in the decisions of Argentine retailers.

  4. Repeal of the Buy Argentine legislation which only benefits certain powerful interests.

  5. Elimination of the Economy Ministry’s Price Observatory to avoid the persecution of companies. 

  6. Repeal of the Industrial Promotion Law.

  7. Repeal of the Commercial Promotion Law.

  8. Repeal of the norms preventing the privatisation of public companies. 

  9. Repeal of the régime governing state companies.

  10. Transformation of all state enterprises into limited companies for their subsequent privatisation. 

  11. Modernisation of labour legislation to facilitate the process of creating genuine employment.

  12. Reform of the Customs Code to facilitate international trade.

  13. Repeal of the Land Law to promote investment.

  14. Amendment of the Firefighting Law.

  15. Repeal of the obligations imposed on sugar refineries when producing sugar.

  16. Liberation of the legal regime applying to the wine sector.

  17. Repeal of the national system governing mining and the Bank of Mining Information.

  18. Authorisation for the total or partial cession of the Aerolíneas Argentinas share package.

  19. Implementation of an “open skies” policy.

  20. Amendment of the Civil and Commercial Code to reinforce the principle of contractual freedom between the parties.

  21. Amendment of the Civil and Commercial Code to guarantee that the obligations contracted in foreign currency must be cancelled in that currency as agreed.

  22. Amendment of the regulatory framework governing prepaid and obras sociales healthcare schemes.

  23. Elimination of the restrictions on the prices of prepaid healthcare schemes. 

  24. Incorporation of prepaid healthcare schemes into the obras sociales regime.

  25. Establishment of electronic prescriptions to speed service and minimise costs.

  26. Amendments to the régime governing pharmaceutical companies to encourage competition and reduce costs.

  27. Amendment of company law to allow football clubs to become limited companies if they so wish.

  28. Deregulation of Internet satellite services.

  29. Deregulation of the tourism sector eliminating tourist agency monopolies. 

  30. Incorporation of digital tools into the paperwork to register cars.



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