US EditionArgentina's Milei secures seats, eyes coalition for reforms
Milei's party increased seats but remains short of majority, needing alliances to advance tax and labor reforms amid opposition from Peronists and cautious lawmakers.
- On Sunday, Javier Milei's libertarian alliance made strong gains, transforming La Libertad Avanza into a veto-defending bloc; his party will remain short of a majority when new lawmakers are sworn in on December 10, and he signaled readiness for partnerships.
- He must now recruit allies to advance reforms, but lawmakers outside Milei's party have met his outreach with caution as he seeks support for tax and labor changes.
- Milei proposes sweeping changes to employment laws including longer workdays, split vacations, partial non-monetary wages, severance in installments, and shifting labor disputes from federal to local courts, while factories across Argentina have closed amid rising competition.
- PRO and LLA combined hold 104 seats, just below the 129 needed; Sanchez warns `He is unlikely to budge on core issues such as fiscal austerity, state reform, and economic deregulation`.
- In the coming weeks, public attention will turn to a cabinet shake-up before December 10; analysts say tax simplification may be achievable, but labor reforms face tougher political challenges, while Pablo Yedlin urges focus on macroeconomic policies amid slowed growth.
8 Articles
8 Articles
Argentina's Milei Secures Seats, Eyes Coalition for Reforms
Argentina's Milei secures seats, eyes coalition for reforms
Argentine President Javier Milei's libertarian alliance made strong gains in Sunday's midterm elections, but he now faces the challenge of showing he can build a coalition to push through investor-desired reforms.
Empowered by the victory in the mid-term elections, Argentinian President Javier Milei slows down his management and opens up to dialogue with three reforms in view: taxation, worker and predictor, central to his ultra-liberal project. The government has come to the legislation in the middle of the financial turmoil that has been calmed after the triumph. Now he faces the challenge of putting in place a step-by-step economy and consolidates his …
In 2023, Argentina's annual inflation rate was over 200 percent; now it's 32 percent. The budget is balanced, and the economy is growing strongly. Argentina's main stock index rose 20 percent the day after Milei's election victory. What lies ahead for the president?
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