ARGENTINA: Milei Says Govt Will Cut Elsewhere, If Congress Passes Spending Bills
Aug-28 16:13
- Comments from President Milei, speaking at an event in Buenos Aires have recently crossed the wires, where he has said that the government will cut spending elsewhere if Congress passes bills that could increase spending by 2%.
- Although the Senate failed to overturn Milei’s veto of a key pension bill recently, it did pass smaller healthcare and university funding bills last week with enough of a majority to overturn his veto there. These bills also need to pass in the lower house with a 2/3 majority to successfully overturn his veto of them. Milei has previously said that the various spending bills could increase government spending by 2.5% of GDP.
- In addition, Milei has also said that interest rates - which have recently spiked amid a liquidity crunch - will settle after the upcoming provincial and national midterm elections. His remarks echo those of Economy Minister Caputo earlier this week.
- "*MILEI: IF CONGRESS RAISES SPENDING 2% GOV'T WILL CUT ELSEWHERE"
- "*MILEI: ARGENTINA INTEREST RATES WILL SETTLE AFTER ELECTIONS" - BBG
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