During the presentation of the Budget 2025, the president Javier Milei He announced that will veto “all projects that threaten fiscal balance”. At the end of August he gave the first example by preventing the promulgation of the pension reform. The same fate could befall the law university financing.
The head of state arrived at Congress after 9 p.m. to lead the presentation ceremony of the “Law of laws”the cornerstone of any government, since it refers to the estimated income and expenses for the next year. “Today we are here to present a national budget that will change the history of our country, so that we can become the great Argentina that we once were. Today we are here to put a stop to the State,” he said at the beginning.
He then announced that the new Pbudget “protects fiscal balance, regardless of the economic scenario”so “regardless of what happens at the macro level, the fiscal result will be balanced.” Along these lines, the president said that a limit will be placed on the expenditure of money, so that the zero deficit can be protected.
Javier Milei announced that he will veto all laws that “threaten fiscal balance”
Before the Chamber of Deputies, Milei was blunt in stressing that any law that puts the balance of public accounts at risk “will be vetoed.” His words resonated in the House just weeks after having stopped the promulgation of the Retirement Mobility Law.
“The needs are infinite and resources are finite. Therefore, when The politician asks for more and more spending to distribute money that does not exist“What he is doing is defrauding the Argentine people. He is playing with everyone’s future to score a little political point with some well-meaning speech along the way. The politician knows that when he increases public spending, he is giving people money to take double from their other pocket,” he explained.
“That’s why – he said Milei – we vetoed the project to increase public spending that was approved by this Congress.” “And for that reason, We will veto all projects that threaten fiscal balance“, he added.
Milei will veto the university financing law
After the defeat in Congress with the pension reform law, the President signed the decree that vetoed its promulgation under the argument of “taking care of public accounts.” And last week, with the vote of allies, he managed to endorse the veto in Parliament.
Now, the next battle will have the public universities on the other side. It happens that early Friday morning, the Senate approved the university financing lawa demand from the educational community. However, the Government has already announced that it will veto it, which means it will have to gather votes in Parliament again to defend its decree.
The law requires the Executive Branch to update the budget items to cover operating, research and extension expenses in universities, and establishes that every two months the Government must adjust the budgets of the Universities according to inflation. In turn, it establishes that it will have to update from January 1, 2024 and until December 31, 2024, on a bi-monthly basis, the amount of the operating expenses of national universities for the Consumer Price Index reported by INDEC.
The 2023 CPI update is 210.742 million pesos; the bi-monthly adjustment of resources for 2024 is 86.254 billion pesoswhile for salaries the funds fluctuate in the 441.6 billion pesos. The measure would generate a fiscal impact of 735.598 billion pesos, which is 0.14 percent of GDP, according to the Congressional Budget Office.
However, according to official sources confirmed to Ámbito, the president Milei will veto the education law “in a total manner”, despite the strong demands of the sector given the delay in updating operating expenses and the salaries of teachers and non-teaching staff.
Source: Ambito
