Argentine Senate passes pension spending increase in a blow to President Milei’s radical austerity

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Argentina Congress Passes Pension Boost Despite Milei Opposition

President Milei immediately vowed to veto the pension legislation, arguing it threatens the country's fiscal surplus and could cost up to 2.5 percent of Argentina's gross domestic product, potentially erasing budget gains achieved through his spending cuts.</span

Buenos Aires Times

President Milei immediately vowed to veto the pension legislation, arguing it threatens the country's fiscal surplus and could cost up to 2.5 percent of Argentina's gross domestic product, potentially erasing budget gains achieved through his spending cuts.

The opposition-controlled Senate session was validated by Vice President Victoria Villarruel despite government objections, leading Milei to call her a "traitor" and Security Minister Patricia Bullrich to label the proceedings an "institutional coup".</span

The opposition-controlled Senate session was validated by Vice President Victoria Villarruel despite government objections, leading Milei to call her a "traitor" and Security Minister Patricia Bullrich to label the proceedings an "institutional coup".

Milei's economic program has reduced government spending by approximately 30 percent, cut public sector jobs, and halted infrastructure projects, helping inflation fall from 25 percent monthly to around 2.2 percent by January 2025 while achieving monthly budget surpluses.</span

The Rio Times

Milei's economic program has reduced government spending by approximately 30 percent, cut public sector jobs, and halted infrastructure projects, helping inflation fall from 25 percent monthly to around 2.2 percent by January 2025 while achieving monthly budget surpluses.

The minimum pension in Argentina currently stands at about $240, below the poverty line of $1,000 for elderly citizens, while retirees have launched weekly protests in Buenos Aires demanding adjustments to their pension payments amid rising living costs.</span

The minimum pension in Argentina currently stands at about $240, below the poverty line of $1,000 for elderly citizens, while retirees have launched weekly protests in Buenos Aires demanding adjustments to their pension payments amid rising living costs.

Congress can override Milei's promised veto with a two-thirds majority vote in both chambers, and the president has threatened to take the matter to court if lawmakers successfully overturn his veto, setting up a constitutional confrontation.</span

Congress can override Milei's promised veto with a two-thirds majority vote in both chambers, and the president has threatened to take the matter to court if lawmakers successfully overturn his veto, setting up a constitutional confrontation.

The pension increases are necessary to help vulnerable retirees who have lost significant purchasing power due to inflation and austerity cuts. The current minimum pension falls below the poverty line, and elderly citizens deserve dignity after contributing to society throughout their working lives. Milei's extreme cuts have gone too far at the expense of the most vulnerable.

The pension increases are necessary to help vulnerable retirees who have lost significant purchasing power due to inflation and austerity cuts. The current minimum pension falls below the poverty line, and elderly citizens deserve dignity after contributing to society throughout their working lives. Milei's extreme cuts have gone too far at the expense of the most vulnerable.

Argentina Senate Passes Pension Increase Despite Milei Opposition

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Argentina Senate Passes Pension Increase Despite Milei Opposition

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