Argentina’s Congress overturns President Javier Milei’s veto on funding
Key Takeaways
- Argentinian Congress overturned President Milei's vetoes on funding for public universities and pediatric care.
- This is the third law upheld by Congress despite Milei's strong opposition to spending increases.
- The setback occurs as Milei's party faces declining popularity leading up to the October midterm elections.
- Milei is struggling to stabilize the national currency, the peso, amid market uncertainty.
- Political analysts cite public 'disenchantment and anger' over the impact of Milei's austerity cuts.
Argentina's Congress delivered a significant setback to President Javier Milei by overturning his vetoes on legislation that increases funding for public universities and pediatric care. This action marks the third instance where Congress has successfully overridden Milei's opposition to spending increases, directly challenging his deep austerity policies aimed at reducing government size. The political defeat comes at a difficult time for Milei, whose popularity is waning ahead of the critical October 26 midterm elections, following a poor showing in recent provincial polls. Analysts note a growing 'disenchantment and anger' over the impact of the budget cuts, exacerbated by Milei's failure to build necessary political alliances. Furthermore, the president is struggling to end the run on the Argentinian peso, even as the US government offers support, including talks for a $20 billion swap line to shore up the currency.
