The president of Argentina, Javier Milei, said this Wednesday (5) that he will veto changes in payments to retirees and pensioners that the Chamber of Deputies approved in a session that ended only in the early hours of the morning, if they also pass the Senate.
According to information from the Clarín newspaper, at an economic forum in Buenos Aires, the libertarian president called the deputies “fiscal degenerates”.
“Every time the fiscal degenerates of politics want to break the fiscal balance, I tell them, I’ve said it before, I’ll say it now and I’ll repeat it until I get tired: I’m going to veto everything, I don’t care at all”, he stated.
In this sense, Milei made reference to the president of El Salvador, Nayib Bukele. “They are trying to end fiscal balance. Wants to know? When Bukele took office, he had no deputies, no legislators, nothing [apoiando-o no Parlamento]. Do you know how he governed? Vetoing everything. Everything the fiscal degenerates did was vetoed. That’s what I’m going to do: I’m going to veto everything”, said the Argentine president.
In the early hours of the morning, the Chamber of Deputies had approved, with 162 votes in favor, 72 against and eight abstentions, a project to reform the pension mobility system.
In March, Milei had established by decree a new social security mobility formula, with increases in pensions and retirements based solely on inflation, plus a one-off recovery of 12.6% that month.
The proposal approved by the Chamber this Wednesday provides for an initial recovery of 20.6%, considering the 12.6% from Milei’s decree and an additional amount; update for inflation; an additional annual increase equivalent to 50% of the difference between the variation in the average salary and inflation; and a floor set at 1.09 times the value of the basic food basket.
According to the Argentine Congressional Budget Office, this package would generate a fiscal cost of 0.43% of GDP.
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