No Money, Argentine Veto President Bill On Pension Fund Increase

Argentine President Javier Milei/PHOTO Gage Skidmore from Surprise, AZ, United States of America via Wikimedia Commons

JAKARTA - Argentine President Javier Milei vetoed a bill to increase pension funds and a bill that strengthens protection for persons with disabilities that was previously passed by parliament in July.

Javier rejected the ratification of the bill on the grounds that the new rules were endangering fiscal balance.

As reported by Reuters on Monday, August 4, the decision to veto the bill was announced by Milei last month, although Congress in which the libertarian president has no majority can still cancel the veto.

The Veto comes less than three months before Argentina's part-time election, which is seen as a benchmark for approval of the Milei administration, which has succeeded in reducing annual inflation to three digits.

But its savings policy has had a social impact.

After the issuance of an executive order accompanied by veto, the Argentine presidency stated that the bill had been approved by Congress irresponsibly, without identifying funding sources.

"This president would rather tell an uncomfortable truth than repeat a convenient lie, no money," the statement said.