Argentine President Javier Milei announced on Friday that next week he will create a Ministry that will be in charge of implementing structural reforms and which will be led by the economist Federico Sturzenegger.
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In a television interview, Milei said that next week Sturzenegger will formally join his cabinet, leading a “Ministry that will be in charge of carrying out the reforms.”
Sturzenegger, president of the Central Bank between 2015 and 2018, during the Government of Mauricio Macri (2015-2019), had a central role in the design of the package of economic reforms promoted by Milei and which finally became law this Friday, after half a year of debate and parliamentary processing.
Speaking to LN+, Milei said that Sturzenegger will be “in charge of carrying out structural reforms so that we gain economic freedom and can continue growing.”
“Next week we will make the appointment of Federico Sturzenegger”
Javier Milei announced that the presidential advisor will take office in the coming days: “The first thing we are going to remove is what he calls ‘the leaf litter law’, which is 100 laws that hinder the economy.” pic.twitter.com/XsV2K1I9Bt
— Corta 🏆 (@somoscorta) June 28, 2024
Among other things, he announced that the Executive will now promote a draft “litter law” to eliminate “a set of regulations that hinder the functioning of the economic system.”
“There are a hundred laws that are eliminated but they imply more structural reforms than a hundred laws,” he stated.
In a press conference, presidential spokesman Manuel Adorni said that the name of the new ministry is not defined, but that it will be “in charge of the acceleration and implementation of everything that has to do with deregulation and bureaucratic cleanup.”
“We have not yet defined the specific powers (of the new ministry). They are being finalized and the name of the portfolio is also yet to be defined,” he said.
👉 Presidential spokesman Manuel Adorni said that Federico Sturzenegger will be appointed in the coming days, but the name of the ministry he will head is not yet known.
🗣️ “We do not have the issue of specific competencies defined,” said the spokesperson. pic.twitter.com/xQWx6tHFrX
— Argentine News (@NAagencia) June 28, 2024
Argentine parliament approves key reforms of Milei
The government of the Argentine president scored a political victory this Friday with the approval, after six months of arduous parliamentary process, of an ambitious package of economic reforms.
The initiatives were approved and converted into law in the early hours of Friday by the Chamber of Deputies, 134 votes in favor, 118 against and three abstentions.
In a statement, President Milei’s Office welcomed the approval of the law Bases and Starting Points for the Freedom of Argentines, better known as ‘omnibus law’ or ‘base law’, and the tax reform also promoted by the Government, projects that had been sent to Parliament on December 27, shortly after Milei’s presidential inauguration.
“With 38 deputies, 7 senators and the support of a sector of the political leadership, despite the obstructionism of Kirchnerism and its accomplices, who have always delayed the project for months, the National Government has managed to pass the first law on the road to the free and prosperous country that Argentines elected on November 19,” the Executive said in the statement.
🇦🇷 Attention OFFICIAL statement from the president’s office.
The office of the President of the Argentine Republic celebrates the approval of the Law of Bases and Starting Points for the Freedom of Argentines 🇦🇷 pic.twitter.com/m5iVp5JZMO
— Austrian School of Economics 🇦🇷 (@DiegoMac227) June 28, 2024
The ruling right-wing party La Libertad Avanza, a minority in Parliament, had the support of the so-called “dialogue opposition” to achieve final approval of the bills, which were rejected by the Left Front and the Peronist front Unión por la Patria.
The ‘base law’ constitutes, together with the fiscal ‘shock’ plan, the ‘heart’ of Milei’s Government program.
The new norm declares a public emergency in administrative, economic, financial and energy matters for a period of one year, granting the Executive delegated powers in these matters.
The law allows for the reform of the State, enables the privatization of some state companies, involves changes in labor and retirement legislation and includes incentives for the energy and hydrocarbon sector and for large investments.
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