Argentina lawmakers to debate slimmer version of Milei's economic reforms

Argentina's lower house is set to start debating two sweeping economic reform bills on Monday as libertarian President Javier Milei attempts for a second time to push through his plans, ranging from privatizations to tighter fiscal policy. Milei, a brash former pundit shaking things up in Argentina after a shock election win last year, has a minority in Congress, but expects to win support from allies in the lower house after months of negotiations and concessions on the bills.

Argentina's lower house is set to start debating two sweeping economic reform bills on Monday as libertarian President Javier Milei attempts for a second time to push through his plans, ranging from privatizations to tighter fiscal policy.

Milei, a brash former pundit shaking things up in Argentina after a shock election win last year, has a minority in Congress, but expects to win support from allies in the lower house after months of negotiations and concessions on the bills. Debate on the twin bills - split up due to a strong initial push-back against his fiscal plans to overturn a deep deficit - is set to started around midday local time (1500 GMT). Voting may happen as early as Monday, and if passed the bills would go to the Senate.

"I think the numbers (of votes) are there," Miguel Angel Pichetto, a lawmaker from the center-right bloc Hacemos Coalicion Federal that has given conditional backing to Milei's libertarians, told local Radio Con Vos. "Work has been done, they've been open to dialogue and striking agreements. They've removed some more delicate topics."

In the Senate, however, the bills look likely to face more push-back. In a previous February vote, the main "omnibus" bill gained general approval in the lower house but so many specific articles were rejected that it returned to the drawing board. The reforms on the table on Monday are a slimmed-down version of the previous package.

Among other things, the reforms would give the executive the power to restructure or privatize public bodies, ease red tape to attract large investments and tweak labor regulations. A separate fiscal package would also raise taxes on high-income earners and sharply cut the rate on personal assets. The debate on Monday will serve as a measure of Milei's ability to rally political support even though his Libertad Avanza party controls only 38 seats in the 257-member lower house.

Argentina is suffering inflation approaching 300%, which predates Milei but rose after he devalued the peso currency sharply in December. Poverty levels are seen over 50% and the economy is stalling in the face of the government's tough austerity measures.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)