Argentina’s new president declares a state of emergency in the economy

Argentinian President Javier Miley declared a state of emergency in the economic, health and social sectors until the end of 2025. The relevant decree was published in the government gazette. writes about this TASS.

The document states that it is necessary to declare a state of emergency in the economic, financial, financial, administrative, pension, tariff and social fields, as well as in the field of health, by the end of 2025.

Miley declared a state of emergency to justify passage of a reform package aimed at liberalizing and deregulating the economy without having to pass it separately through Congress. The decree contains more than 360 articles, most of which repeal or amend existing laws.

The decree enters into force from the moment it is published. However, the government will also have to present this to Congress. A decree can only be repealed if both houses of parliament declare it invalid.

On Wednesday evening, Miley addressed the nation and announced the signing of the emergency executive order. President listed 30 major reforms, including the removal of price controls, reform of customs rules to simplify international trade, preparations for the privatization of state-owned companies, and a ban on the imposition of export restrictions.