Argentina's Milei vows to push ahead with economic reforms with or without parliament | Politics News

Argentina's libertarian leader says he will “continue to push forward” his radical economic agenda.

Argentina's libertarian President Javier Milei has vowed to push forward his agenda of radical economic liberalization with or without support from parliament.

In a State of the Union-style address to MPs on Friday, Milei said he would “continue to push forward” a package of sweeping economic reforms aimed at lifting the country out of decades of dysfunction and decline.

“We will change the country forever … with or without the support of political leaders, using all legal means of the executive branch,” Milei said.

“If you look for conflict, you will have conflict.”

Milei laid down the gauntlet to Parliament after lawmakers rejected his omnibus reform bill last month, despite tough negotiations with the opposition that reduced the number of proposed changes by almost half.

In a more conciliatory note to local governors, Milei called for a 10-point “social pact” that would overhaul the framework for distributing tax resources between the federal government and the provinces.

Milei, who was elected by a large majority in a runoff in November, began his term by devaluing the peso by more than 50 percent, cutting government subsidies for fuel and transportation, halving the number of ministries and eliminating hundreds of regulations.

His government is claiming responsibility for the tentative signs of economic recovery, including the country's first monthly budget surplus in 12 years and growing foreign reserves.

But soaring inflation and Milei's austerity measures have weighed heavily on Argentines and led to strikes and protests.

Milei, a self-described anarcho-capitalist who has promised to restore the dynamism of Argentina's “golden age” of the early 20th century, took office warning Argentines to prepare for a “shock adjustment” to repair the economy.

“I ask for patience and trust. It will take time before we can see the fruits of the economic restructuring and the reforms we are implementing,” Milei said in his address on Friday.

Argentina, Latin America's third-largest economy, has teetered between economic crises for decades and suffers from enormous debt, widespread poverty and triple-digit inflation.