Argentina’s President Javier Milei Issues Major Deregulation Measures via Executive Order

Javier Milei, president of Argentina, has issued an emergency executive order repealing a series of laws to prepare the state for upcoming privatization and modernization moves. The executive order, which has 366 articles, touches on major aspects of Argentine life, including rents, job regulation and land regulation. It also converts all state companies into limited companies.

Argentine President Javier Milei Launches Massive Deregulation Measures

President Javier Milei has launched the first batch of measures focusing on reducing the footprint and reach of the state in Argentina, as he promised during his campaign. On December 21, Milei issued a national emergency executive order that modifies — and eliminates — some of the most relevant laws that regulate work, rent, product pricing, and other aspects of the Argentine citizens’ lives.

The executive order, titled “Decree of Necessity and Urgency – Bases for the Reconstruction of the Argentine Economy,” grounds its action on the economic crisis that Argentina is currently facing, arguing that the only way of overcoming this situation is to revamp the country’s economy.

The document states:

The National State will promote and ensure the effective validity, throughout the national territory, of an economic system based on free decisions, adopted in an area of free competition, with respect for private property and the constitutional principles of free circulation of goods, services, and work.

For this objective, the order calls for the deregulation of trade, services, and industry throughout the national territory, declaring all restrictions on the supply of goods and services void and converting all state companies into limited companies, preparing them for an upcoming privatization action.

The 366-article emergency order is garnering immense opposition from lawmakers in the Argentine Congress, which can void it if both chambers repeal it by a simple majority.

Analysts and experts are already questioning the constitutionality of the changes to the existing regulatory framework, stating that they could even lead to legal action against Milei. Raul Ferreira, a law professor at Buenos Aires University, stated:

The decree is openly unconstitutional because the legislation that is intended to be carried out with the aim of permanence has to be made by Congress.

What do you think about Milei’s steps to deregulate the Argentine economy? Tell us in the comments section below.