The Argentinian National Congress approves Milei’s budget for first time since taking power

Argentina’s National Congress on Friday approved President Javier Milei’s proposed budget, a precedent of its kind since he came to power two years ago.

The Senate voted in favor of the budget by 46 votes to 25 against, with one abstention, after it was approved by the lower chamber of the House of Representatives.

Milei’s ruling party made gains in both houses after the October legislative elections, enabling it to pursue a series of major reforms in the second half of its term.

After two years of running the 2023 budget, Milei’s new spending bill aims to reach zero deficits, mainly through spending cuts.

Senator Ezekiel Atauchie, a member of the ruling party, said: “We’ll not spend more than we earn, and we will work to adjust our calculations”.

Another reform proposed by the Argentinian president related to the country’s labor laws prompted thousands to take to the streets of Buenos Aires last week, delaying a decision on the proposal until February.

“Prepare well, more reforms are coming,” Milei said recently.