The Minister of State Deregulation Federico Sturzenegger He assured that “Public works are no longer available” before an auditorium full of businessmen. He did so amid requests from the provinces and municipalities, who demand that it be reactivated to boost the economy. In addition, He gave his support to Javier Milei’s veto of the increase in pensions.
“There was a group of officials who were selling the works in the municipalities and provinces. Thus, public works were a mechanism of corruption and political subjugation. It took a decision to eliminate all that in one fell swoop. And Javier Milei did it,” said Sturzenegger at a luncheon organized by Mediterranean Foundation.
Sturzenegger’s statements
During lunch, the Minister of Deregulation and State Transformation was blunt when referring to public works, which he assured that “He doesn’t come back anymore“. Furthermore, the official said that this intervention by the State was a “mechanism of corruption and political submission.”
Along these lines, Sturzenegger highlighted the work of President Milei to achieve fiscal balance, highlighting his intensity and obsession.And that I worked with Mingo“, the minister compared.
Regarding the fiscal adjustment carried out by La Libertad Avanza, Sturzenegger stressed that, in the last 70 years, “there are only 34 cases of spending cuts in one year.” Regarding these other examples, the official explained that they were cases “of countries that went through a war.”
“The only case of a president who has achieved an adjustment of that magnitude without that situation is Javier Milei. And he did so with the conviction that every extra peso that the state spends always ends up being paid for by the private sector, through inflation, debt or tax increases,” Sturzenegger said.
In his speech, Sturzenegger also vehemently defended the veto of the law to update pensions. “You cannot pass a law without taking into account resources. The attitude of Congress was childish“That of a boy who tells his father ‘buy me this’ and doesn’t care how much it costs.”
Finally, the minister shared his vision on Argentina’s economic recovery. “LThe best way to promote economic activity is to reduce public spending and have fiscal balance. All of this was achieved by Minister Caputo and President Milei in a month. Unbelievable”.
The Government published the total veto of the increase in pensions
The Government decreed a total veto of the pension reform last Monday. Thus, it temporarily nullified the project approved by Congress that provided for raise the minimum wage and, in addition, established a new formula for calculating the income of retirees.
Only in the early hours of Monday, the government published the Decree 782/24 in the Official Gazettewhich is described as “manifestly in violation of the current legal framework as it does not consider the fiscal impact of the measure nor determine the source of its financing.”
Among its justifications, the decree detailed that the application of the law “would imply for the NATIONAL STATE an additional expense to that planned of approximately SIX BILLION ONE HUNDRED SIXTY BILLION PESOS ($6,160,000,000,000.-) for the year 2024″, an amount that, according to the government’s calculations, would amount to “FIFTEEN BILLION FOUR HUNDRED THIRTY BILLION PESOS ($15,430,000,000,000.-) by the year 2025.”
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In this way, the decree also indicated that these amounts “are equivalent to ONE POINT TWO HUNDREDTH PERCENT (1.02%) of the Gross Domestic Product (GDP) calculated for the current year; and ONE POINT SIXTY-FOUR HUNDREDTH PERCENT (1.64%) of that, estimated for next year.” And he adds that the figures would make it “impossible to meet the fiscal targets “set by the NATIONAL GOVERNMENT”.
Thus, Milei finally made the decision to veto the law altogether. Now, Congress still has one last chance to continue with pension reform.
For this, both cameras They must gather the two thirds in approval of the projectin order to be able to cancel the presidential veto. However, there is still no certainty that Congress will be able to gather the two-thirds vote, after long Internal disputes in the PRO during the last week. Although in the initial votes both Chambers approved the project with a large majority (61 votes in favor in the Senate and 160 in the House of Representatives), The government would be starting to weave negotiations with the different blocks so that the veto can be sustained.
Source: Ambito
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