# Javier Milei's Policy Agenda in Argentina: A Comprehensive Analysis

## Introduction

Javier Milei, Argentina's newly elected president, represents a significant shift in the country's political landscape.

His victory in the 2023 presidential election with approximately 56% of the vote marks a departure from traditional Argentine politics, bringing libertarian and market-oriented strategies to the forefront of governance.

## Background and Political Rise

Milei, a 53-year-old economist and television personality, entered politics only two years prior to his presidential victory.

He describes himself as a "chaotic capitalist" and has drawn comparisons to Donald Trump and Jair Bolsonaro.

His rise to prominence occurred during Argentina's worst economic crisis in two decades, characterized by hyperinflation (143%), widespread poverty (affecting 40% of the population), debt crises, and currency devaluation.

## Economic Policy Agenda

### Core Reforms

Milei's economic platform centers on

# Javier Milei's Policy Agenda in Argentina: A Comprehensive Analysis

## Introduction

Javier Milei, Argentina's newly elected president, represents a significant shift in the country's political landscape.

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Content: Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
Argentine President Condemns Hamas, Plans to Visit Israel
Argentina ’ s new president, Javier Mili, who recently converted to Orthodox Judaism, announced his intention to visit Israel, denouncing Hamas in a speech on Friday to the Jewish community in Buenos Aires.
“In the coming weeks, I will travel to the Holy Land, ” Milley said at the Holocaust Museum in the Argentine capital, referring to a“ new chapter in fraternity between our two countries. ”
Milley condemned Hamas ’ attack on Israel on October 7, calling it “outrageous and unforgivable. ”
Milley was speaking on the eve of International Holocaust Remembrance Day, the same day that the International Court of Justice in The Hague ruled that Israel must prevent genocide in its war against Hamas and allow aid into Gaza.
Milley urged the release of 11 Argentines among the more than 100 hostages still held by Hamas in Gaza.
Milley, who describes himself as an anarchist capitalist, grew up in a Catholic family, but recently talked about his Torah studies.
Immediately after his election in November, he visited a rabbi ’ s grave in New York that is a popular destination for some Jews.
The Jewish community of about 250,000 people in Argentina is one of the largest in Latin America.
Milley presented himself as a political ally of Israel and was open to moving the Argentine embassy from Tel Aviv to Jerusalem.
Before his election, Milley described the Argentine-born Pope Francis as an “evil person ”, an“ aggressive ” and a “fool who promotes communism. ”
The two appeared to be reconciling when Francis called to congratulate Mili on his victory and the new president invited the pope to visit Argentina.
Melly ’ s visit to Israel could coincide with a trip to Rome, where he will attend the canonization ceremony of an Argentine nun.
The Clarin newspaper reported that the Pope will receive Mili on February 12.

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Content: November 25, 2023

Following Sunday’s election results, Javier Meili is set to become Argentina’s president on December 10. Among other things, President-elect Miley has vowed to replace the peso with the US dollar, a policy known as dollarization. Some critics have argued that dollarization would deplete the Argentine central bank’s US dollar reserves, making dollarization excessively costly and ultimately resulting in hyperinflation. However, in leveling this criticism, they misinterpret Argentina’s current economic situation and fail to consider real-world cases of dollarization during an inflationary crisis.

The risk of hyperinflation in Argentina is not due to Javier Miley’s advocacy of dollarization. Instead, it is the result of years of bad monetary policies. Inflation has been rising steadily since 2007, long before Miley proposed dollarization (and almost anyone in Argentina even thought about the possibility of dollarization).

Some experts argue that, by international standards, Argentina is already experiencing hyperinflation. According to Philip Kagan’s seminal 1956 study, most economists define hyperinflation as an inflation rate greater than 50 percent monthly. To put this in perspective, the average annual inflation rate in Europe between 1950 and 1955 was 5.1 percent. In Kagan’s words, a hyperinflation country experienced monthly price increases that were ten times greater than the price increases experienced by a typical European country in a normal year.

The monetary policy landscape is very different today than in the years immediately preceding Kagan’s study. Over the five-year period ending January 2020, just before the pandemic, the EU’s average annual inflation rate was just 0.98 percent. Using Kagan’s ratio, this would mean that a country experiencing at least 9.8 percent inflation per month has hyperinflation. Argentina saw monthly inflation rates of 12.7 percent and 8.3 percent in September and October, respectively. Therefore, adjusting Cagan’s hyperinflation threshold to reflect general improvements in monetary policy elsewhere would reveal that Argentina is already experiencing hyperinflation. While there is certainly potential for further decline, critics of dollarization need to acknowledge just how serious Argentina’s inflation is in the context of the modern global economy.

International experiences show that dollarization and hyperinflation are interconnected issues, but this is not the case according to critics of dollarization. For example, Ecuador adopted dollarization in January 2000 to prevent hyperinflation. Ecuador’s dollarization proved effective. Dollarization immediately brought Ecuador’s inflation rate into alignment with that of the US and then kept it stable over the next decade, despite economic challenges and two sovereign debt defaults. Another compelling example is Zimbabwe, which adopted dollarization in January 2009 to combat hyperinflation. The result was also successful, with inflation reaching US levels by January 2010. As these cases show, dollarization may be a solution to hyperinflation. Argentina could also either resort to dollarization to prevent hyperinflation, or avoid it if inflation gets out of control.

The risk of hyperinflation in Argentina stems not from an intention to create a dollar but from a central bank that appears unable or unwilling to exercise restraint. Argentina’s historical record shows that central bank independence is absent and not easily secured. For better or worse, dollarization offers the safest path to avoid monetary collapse. This provides Argentina with an opportunity to implement much-needed reforms and move forward on a sustainable development path. Dollarization may make things worse before they get better. But to argue that monetary reform that is supposed to tame inflation will lead to hyperinflation is a distorted view of Argentina’s economic reality.

nicholas kachanowski

Dr. Kachanowski is Associate Professor of Economics and El Paso Woody L. Hunt is the director of the Center for Free Enterprise at the University of Texas in the College of Business. He is also a Fellow of the UCEMA Friedman-Hayek Center for the Study of a Free Society. He served as President of the Association of Private Enterprise Education (APEE, 2021-2022) and on the Board of Directors of the Mont Pelerin Society (MPS, 2018-2022).

He received his Licentiate in Economics from the Pontificia Universidad Católica Argentina, his M.A. in Economics and Political Science from the Escuela Superior de Economía y Administración de Empresas (ESADE), and his Ph.D. M.A. in Economics from Suffolk University, Boston

Dr. Kachanowski is the author of Reflexions sobre la economia argentina (Instituto Acton Argentina, 2017), Monetary balance and nominal income targeting (Routledge, 2019), and co-author Austrian Capital Theory: A Modern Survey of Essentials (Cambridge University Press, 2019), Capital and Finance: Theory and History (Routledge, 2020), and Dollarization: Una Solution for Argentina (Editorial Claridad, 2022).

Dr. Kachanowski’s research has been published in outlets such as Journal of Economic Behavior and Organization, public choice, Journal of Institutional Economics, Quarterly Review of Economics and FinanceAnd Journal of the History of Economic Thought among other outlets.

Get notified of new articles from Nicholas Kachanowski and AIER.

Source: www.aier.org

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Content: (Bloomberg) -- Argentina’s next president will take over in the middle of a financial emergency — which is par for the course in one of the world’s most dysfunctional economies.

Voters are heading to the polls on Oct. 22 with the country in recession for the sixth time in a decade, and inflation running close to 140%. Candidates are promising solutions that range from the orthodox — a bout of budget belt-tightening — to the radical: Frontrunner Javier Milei says he’d adopt the US dollar as Argentina’s currency as an alternative to the peso.

There’s unlikely to be any quick fix because Argentina’s current economic woes have their roots in decades of mismanagement. Governments zig-zagged between policies, unable to pursue a consistent approach, and most investors fled. The result is that the country — once one of the region’s wealthiest — has an economy that looks increasingly unique, and not in a good way.

“Argentina is an outlier, and it has been for a long time,” says Martin Castellano, head of Latin America research at the Institute of International Finance. And initial steps toward getting the economy back on track are set to be painful.

With central bank reserves in the red, and the peso overvalued at official exchange rates, whoever wins the election will likely preside over a currency devaluation while trying to overhaul the public finances. “It’s an unavoidable adjustment that will result in another recession next year,” says Castellano.

Here are five charts illustrating the deep and distinctive trouble that Latin America’s third-largest economy is in:

Recession Champion

Argentina has a long history of drastic economic swings, a result of weak and inconsistent policies that stand out even in a volatile neighborhood. A 2018 study by the World Bank found that between 1950 and 2016, the nation spent roughly one-third of the time in recession, the most of any country in the world except the Democratic Republic of the Congo.

The economy is expected to contract again this year, according to the International Monetary Fund as well as analysts surveyed by Bloomberg. If those forecasts are correct, it will mean the economy has shrunk in almost half of the years since 1980.

Losing Inflation Battle

Several Latin American countries suffered bouts of high inflation or even hyperinflation during the 1980s and early 1990s. Most of them managed to get a grip on price pressures — by adopting inflation-targeting regimes, allowing their currencies to float, and developing local-currency debt markets.

Not in Argentina. After a currency peg ended in 2002, the country’s central bank has been increasingly financing the government’s deficit via money printing. As a result, the annual inflation rate reached a three-decade high of 138.3% in September, and it’s expected to surpass 180% by the end of the year.

Credit Desert

In most countries, the flow of bank credit to households and businesses is crucial for fueling economic growth. But in Argentina, years of high interest rates and inflation have been a barrier for both lenders and borrowers.

What’s more, private banks lend mainly to the ever-more-voracious government, leaving very little for individuals and companies. The result is that Argentina has one of the world’s lowest levels of credit to households, according to data from the Bank for International Settlements. Similarly, lending to businesses is only a fraction of the levels seen in neighbors Brazil and Chile.

ARGENTINA INSIGHT: Roadmap Out of Crisis — Fiscal’s First

Sinking Peso

The Argentine peso has lost almost 100% of its face value in the past two decades, and once again this year it has posted one of the worst spot returns among the main emerging economies. “They missed the opportunity to move to a flexible foreign exchange regime and it has never been done properly,” says Castellano.

No Foreign Capital

Amid all the volatility, it’s no wonder that Argentina has lagged its peers in attracting global money. Foreign direct investment in recent years has been much lower than in Brazil or Mexico, the only two Latin American economies that are larger.

Argentina has a big domestic market, but companies seeking to tap it face risks including nationalization or inability to send their profits to headquarters. Importers and exporters also have a tough time selling their products due to a byzantine system of capital controls. As for short-term funds, the country saw a surge of inflows under the market-friendly government of Mauricio Macri between 2015 and 2019 — but most of the hot money fled again as Macri presided over another economic collapse.

©2023 Bloomberg L.P.

His victory in the 2023 presidential election with approximately 56% of the vote marks a departure from traditional Argentine politics, bringing libertarian and market-oriented strategies to the forefront of governance.

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Content: November 20, 2023

Finally, when the results of Argentina’s presidential election became clear on Monday (November 20, 2023), the result was not at all surprising. However, the margin of victory was definitely there, and it is nothing less than a political earthquake.

Fed up with seemingly perennial economic malaise, lurking annual inflation hovering around 143% and widespread poverty affecting 40% of the population, Argentines turned in large numbers to 53-year-old economist and right-wing outsider Javier Miley.

The man often described by his critics and opponents as “El Loco”, or the mad man, came to power by winning a record 56% of the public run-off vote against Sergio Massa, an outgoing government minister and leftist rival. , with 44. ,

He won 20 of the country’s 23 provinces. Even the country’s capital, Buenos Aires, gave him preference over his rival and in some provinces Milley got as much as 70% of the votes.

His economic policies, many of which may be too strange for some, will undoubtedly be scrutinized ahead of his inauguration on December 10, 2023. But Miley’s core mission of “kicking the Keynesians and collectivists” may be paying off. He.

In addition to pledging to cut bureaucracy (a favorite of his fan base), the president-elect has also promised to “blow up” the central bank to stop it from printing more money, which he says is Argentina’s Increasing uncontrolled inflation. To mark some of the things said on the campaign trail. He also wants to abandon the local currency – the peso – in favor of the US dollar.

Will El Loco compromise Argentina’s energy policy?

Miley has also promised to cut public spending and privatize state-owned companies, which has inevitably increased interest in the energy world. According to the International Energy Agency (IEA), Argentina has the world’s second largest reserves of shale gas and the fourth largest reserves of shale oil worldwide.

In 2022, Argentina produced 706,000 barrels (bpd) of oil and 308 tcf of natural gas in its Vaca Muerta shale formation. The flag bearers of Argentina’s hydrocarbon wealth are the state-owned oil companies YPF and Ensarsa.

More from ForbesHow billions of dollars of investment in AI are fueling innovation in the oil and gas sectorMore from ForbesScaling technology and will is key to ‘fast-tracking’ global energy transition

Miley confirmed his intention to privatize YPF in statements following his election victory. That caused New York-listed shares of YPF (NYSE: YPF) to jump 39% from Friday’s closing price of $10.78 to $15 on Monday (15:00 PM EDT).

However, Miley also told Argentinian broadcasters that before privatizing YPF, his administration would have to “reconstruct” it. The President-elect did not specify how long it would take or what kind of streamlining of operations and processes he had in mind. The market will undoubtedly pounce on them as the details emerge.

It appears that luck is also somewhat on the incoming President’s side. In a desperate attempt to curb crippling energy imports, his predecessor built pipeline infrastructure to monetize Vaca Muerta’s natural gas.

After an economically distressful and nearly 20-year long hiatus, energy exports have finally increased, including to neighboring Chile. In 2022, Argentina had an energy deficit of $5 billion and the current year is probably an exercise in balancing. But government data points to an energy surplus of $4 billion in 2024.

Depending on market direction, windfall profits could ultimately amount to $20 billion by 2030. Many people, perhaps including Miley herself, are hoping that Argentina’s energy exports will also help reduce the country’s overall trade deficit.

And the president-elect, who is proud to declare himself a climate skeptic, has also promised to free Argentina’s energy industry from red tape. This broad omnibus pledge appears to range from closing the country’s Ministry for the Environment and Sustainable Development to encouraging private sector investment in renewables, if there is a buyer.

There are also high hopes that efforts to explore for commercially viable oil and gas in the Falkland Islands – a British overseas territory 300 miles off Argentina’s southern coast, which Buenos Aires claims – could be more favorable and cordial. .

The two countries went to war over the islands in 1982, during the UK premiership of the “Iron Lady” Margaret Thatcher. A British expeditionary force recaptured the islands in June 1982, following a brief occupation by Buenos Aires following the Argentine invasion of the islands in April.

Successive leftist Argentine governments in recent decades have used the controversy for political gain, but Miley caused a political stir earlier this month by describing Thatcher as “one of humanity’s great leaders” in a televised debate. Created a stir.

While Miley, in line with many predecessors, still views Argentina’s sovereignty over the islands as “non-negotiable”, his tone is likely to be more cordial and could promote a gentler level of economic dialogue.

Don’t forget lithium

It is often said in politics that timing is everything and the broader energy complex also seems to be in Miley’s favor. According to the US Geological Survey, Argentina has the world’s second largest lithium reserves, estimated at 20 million tonnes.

Domestic production of the metal, vital to the world’s energy transition, is growing rapidly, and could reach 120,000 tonnes/year in 2024 (from current levels of about 60,000 tonnes/year). Miley’s encouragement of private sector investment could further up the game with about 40 projects under development in three active mines.

The only major detail in the energy policy actions is that Miley spent his entire presidential campaign attacking almost Argentina’s entire political class and politicians, especially those on the left.

But his party has very few seats in Argentina’s Congress. Despite her powerful mandate, Miley will now have to negotiate with the very people she attacked during the campaign to advance her agenda. This will not be easy. Although it is too early to say how this will all play out, there are solid grounds for cautious optimism.

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LEBANON
Mikati: The next phase is full of challenges and there are a lot of necessary reform measures
29-07-2022 | 04: 08
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Caretaker Prime Minister Najib Mikati stressed that "the launch of the public procurement law and progress on the reform of the system as a whole proves that we have promised and implemented what our government committed to before our society, as well as before the international community, which closely follows this issue, which considers it the third in the ladder of reforms after the reform of electricity and judicial reform."
He stressed that “the next phase is full of challenges, and there are many necessary reform measures that need to work in a coordinated manner among all stakeholders at the national level, with international partners and donors. ”
Mikati sponsored the ceremony, which was called by Finance Minister Youssef Khalil on the occasion of the entry into force of the "Public Procurement Law" today.
The ceremony was attended by ministers, deputies, political, diplomatic, economic and military figures and representatives of international bodies.
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President Mikati 's Speech
In his speech, President Mikati said: “We are meeting today, in light of the difficult and complex challenges facing us, to launch the work on the Public Procurement Law, which is the result of the continuous and tireless work of the House of Representatives for a full year and of the Lebanese Ministry of Finance for years.
The reform of the public procurement system is a cornerstone of building confidence in good financial governance based on fiscal discipline, fighting corruption, enhancing competitiveness, and improving the quality of services.
This law is an entry demanded by the Lebanese society and committed by our government, as part of a vision that seeks to put the economy on the path of recovery, and restore the confidence of our citizens in the state and its institutions and the possibility of its revival.
“The introduction of the Public Procurement Law and the progress of the reform of the system as a whole proves that we have promised and implemented – we have promised and implemented what our government has committed to before our society, and also before the international community, which is closely following this issue, which is considered the third in the ladder of reforms after the reform of electricity and judicial reform. ”
He said that the reform of the public procurement system, as you know, is one of the structural reforms required by the IMF and has been repeated in most of the key stations and documents such as the recommendations of the International Support Group for Lebanon, the French initiative that we value, the recommendations of the Reform, Recovery and Reconstruction Framework (3RF), and of course the CEDRE conference.
He continued: “During the last six months, we approved the National Public Procurement Strategy and formed a ministerial committee headed by His Excellency the Minister of Finance responsible for overseeing the implementation of the strategy in partnership with international bodies, and entrusted us with the responsibility of coordinating this great national effort.
We relied on ourselves and the competent human resources in our departments, and on the experience accumulated by this Institute during its twenty-five years of giving, and it was up to the challenge of witnessing international institutions and representatives of civil society and the private sector, who were its partners and we were real partners.
We have succeeded in making tangible progress, so that we can say today that this national participatory effort and this law have not remained a dead letter, and have produced tangible results that, God willing, will reflect positively on the management of public money, the economy and the improvement of the lives of citizens. ”
“I said that this day will be remembered by administrative history as a major turning point in outdated practices.
The Chairman and the Working Group of the Public Procurement Authority shall be aware of the great responsibility entrusted to them in ensuring the proper implementation of this Law.
The next phase is challenging, and there are many necessary reform measures that require coordinated action among all stakeholders at the national level, with international partners and donors.
We look forward to the completion of the necessary steps to complete the reform of the public procurement system, especially the establishment of the Objections Authority, which is the guarantor of the rights of the objectors according to the new modern bases of complaint and objection, as well as to the issuance of executive decrees that will activate the work of the two new bodies introduced by this law, namely the Public Procurement Authority and the Objections Authority.
We also look forward to removing the implementation of this reform from political tensions, whatever they may be, to achieve the desired results, as any delay in the implementation of these steps and the good implementation of this law will be read as a negative and dangerous indicator of Lebanon ’ s credibility in pursuing the structural reforms it needs. ”
“From this rostrum, I reiterate my support for your efforts and congratulate everyone on this first step in consolidating Lebanon ’ s commitment to structural reforms.
I hope that we can learn from the lessons of public procurement reform and its methodologies, and build on them in achieving other reform paths.
By joining forces at the national level, we can bring Lebanon to safety. ”
Statement by the Minister of Finance
For his part, Minister of Finance Youssef Khalil said in his speech: "I am pleased to meet today to launch the work of the Public Procurement Law 244, which is the basis for reforming the way the state manages its financial resources, which is the way to end consensual deals, which is justice in not limiting the purchase to large institutions, and allowing the purchase from medium to small institutions and merchants. According to the logic of providing opportunities for all of them.
Hence the importance of the principle of universality provided for in this law.
It is a law that will also help us achieve greater financial regularity, through the principle of budgetary inclusion.
In short, it is a law that provides the highest degree of efficiency, transparency and accountability in the spending of public money, through modern mechanisms, in line with international standards. ”
"The Ministry of Finance is counting on this law to activate the principle of prior planning for spending, so that money can not be spent outside this context, and thus makes it easier for us to foresee funding needs and achieve the required financial correction," he said.
We are also counting on the proper implementation of this law to restore the confidence of the private sector and investors who want to invest in vital economic projects that Lebanon needs to boost its economy. ”
He added: “Six months ago, we stood on this platform and affirmed our commitment at the Ministry of Finance and at the Basel Fleihan Institute of Finance to move forward, despite the limited possibilities, in coordinating this great national effort with our partners in the private sector, civil society and the international community.
We called on partners – all partners – to provide coordinated support for the implementation of the procurement reform strategy ’ s implementation steps, notably:
First: Approving the decrees supplementing the law, and proposing amendments to other laws related to it.
Second: Issuing guidelines and standard terms books, and making them available to the concerned parties.
Third: Strengthening national capacities through the training of all workers in the state and its institutions, municipalities and federations, and all bodies and companies that spend public money.
Fourth: Operate the central electronic platform, which forms the backbone of the new system.
Fifth: Strengthening the governing body: the Public Procurement Authority.
Sixth: The establishment and support of the Objections Authority, which is the guarantor of the rights of the objectors, according to the new modern foundations of complaint and objection.
He said: We have made progress on some tracks with the available capabilities, and under difficult financial and human conditions, and the delay of work on other tracks, as the lady has already shown you, the path is long and difficult.
It requires complex technical work, supported by a firm political will.
Certainly, it needs to provide human, technical and financial resources to achieve it within the deadlines.
Thanks to the competent human resources in our departments, and the experience accumulated by the team of the Institute of Finance, the Institute of Basel Fleihan, and the ladies and gentlemen specialists members of the team of experts.
Thanks to them, as well as appreciation, to the President of the Public Procurement Authority, who today has great responsibilities.
I am very grateful to the distinguished attendees and to the representatives of international institutions, especially the World Bank, the French Development Agency and the European Union, who contributed to the completion of the first evaluation survey of the public procurement system based on the MAPS methodology to the proposal of the law approved by the Parliament after a great work led by the Chairman of the Parliamentary Sub-Committee, Mr. Yasin Jaber Mashkoura.
"We look forward to your support and support for the proper implementation of this difficult reform, so that the national effort is not lost, and to reassure donors and funders, the private sector and civil society, and to assure them that we are proceeding on clear and firm foundations," he said.
On the eve of the adoption of the budget for the year 2022, with its corrective items, and just emerging from the adoption of the banking secrecy law, and waiting after it the Capital Control Law, and other laws, we can confirm that we are making fundamental steps in the recovery approach, and with it will certainly be allowed to be optimistic about re-energizing our productive sectors, restoring confidence to investors, and attracting foreign investments, to all workers in the public sector. Wages that provide all workers with a public or private sector, social security that we aspire to. ”
Word of the attic
The head of the Public Procurement Authority, Jean Al-Aliyah, said in his speech: "Today we have an independent, specialized, neutral public procurement authority that organizes, monitors, monitors, sometimes punishes, sometimes refers to the supervisory authorities, sometimes refers to the judiciary on the subject of public transactions.
It enjoys legal personality and financial and administrative independence, and is not subject to either hierarchical or administrative guardianship authority (Article 74 of the Public Procurement Law).
Public procurement will no longer be the profession of those who do not have a profession, but it has become a self-standing profession subject to specialization, training and continuous qualification (Articles 72 and 73 of the Public Procurement Law).
Article 100 of the Public Procurement Law entrusted in the second item of it exclusively to the binding committees the process of studying the files of pre-qualification, opening and evaluation of offers and then determining the most suitable offer.
Today, the Public Procurement Act enshrines open public competition as a general rule in the conduct of public transactions.
(article 42 of the Public Procurement Act).
Today is a watershed day between mutual consent as a rule and mutual consent as an exception restricted by controls and controlled by analysis and reasoning (Article 46 of the Public Procurement Law).
Today, the legislator regulates the process of receiving public deals in terms of their formation and functions (Article 101 of the Public Procurement Law).
Today, the legislator in the Public Procurement Law, in order to implement the text, imposed penal sanctions for crimes related to public procurement, affecting the original perpetrator, accomplice, instigator, intervener and beneficiary (Article 112, paragraph 5, of the Public Procurement Law).
Financial penalties are imposed on the purchasers by the State Audit Bureau on an amnesty or at the request of the Public Procurement Authority and on those committed by the Public Procurement Authority.
At the initiative of the Lebanese Transparency No Corruption Organization and in cooperation with the Basil Fleihan Institute, we have initiated steps to implement or supplement the Public Procurement Law, obliging the contracting companies to declare the final beneficiary of these companies (called the Tax Procedures Law, the owner of the economic right).
Today, the President of the Public Procurement Authority represents the Authority towards others and before the judiciary, and has the right to submit reviews before the judiciary.
(Article 77 of the Public Procurement Act, paras. 1 and 8).
Today, the base of entities subject to the provisions of the Public Procurement Law has been expanded to include, in addition to public administrations, public institutions, councils, funds, bodies and municipalities, public utilities run by private companies for the benefit of the state, and companies in which the state owns shares. para. 3 of the Public Procurement Act).
We announce the entry into force of the Public Procurement Law, and put all our capabilities and experiences in parallel with the training and qualification carried out by the Institute of Basil Fuleihan at the disposal of the purchasers subject to its provisions, all the purchasers with the allocation of work teams to clarify and answer questions.
The word rug.
"The circumstances experienced by Lebanon and its institutions affected the speed of logistical and administrative preparations in the year following the publication of the law in the official gazette, including the Coronavirus epidemic, currency devaluation, inflation and the suffocating financial crisis," she said, but considered that "what has been achieved is enough to start implementation."
She stressed that "what was achieved was thanks to the brave team of the Basel Fleihan Institute of Finance, and the team of experts and most of the best that this country has of wealth and woe to this country if it loses its institutions like these."
“Despite the lack of support promised, we were able to put this reform on the path of progress in the past six months, ” she said, following the launch of the National Public Procurement Reform Strategy on January 20, six months after the adoption of Law No. 244 / 2021 in the House of Representatives.
She recalled that "the national strategy was approved on May 20, and a ministerial committee was formed to follow up the process of public procurement reform headed by the Minister of Finance," noting that "the national coordinator assigned by the Council of Ministers, the Bassel Fleihan Financial and Economic Institute, organized the work on seven axes."
She stressed that "the second phase of the implementation of the strategy requires a set of steps, the first of which is to support the Public Procurement Authority in its work and put into practice the central electronic platform and the formation of the Objections Authority along with other tracks."
She continued: "We are aware that there are many difficulties in the implementation of this law and that the concerned authorities have a lot of questions about the minutes of the application, how to use the electronic platform, standard terms books, etc.
But we are working with the Public Procurement Authority to overcome these obstacles. ”
She stressed that "the law, contrary to the fears of some buyers, facilitates the work of these bodies in terms of introducing new procurement methods commensurate with the volume of purchase (and has been allocated to small contracts in easy and flexible ways) or in terms of encouraging joint purchase, or in terms of adopting financial ceilings commensurate with the current reality of inflation, as well as adopting a flexible way to amend the financial ceilings so that the amendment is approved by a decree taken by the Council of Ministers on the recommendation of the Public Procurement Authority".
She described the start of the implementation of Law 244 as "a giant step in the course of the basic structural reforms needed by Lebanon and demanded by its citizens and the international community," noting that "this giant step comes in very complex political, financial and functional circumstances as the entire public sector is on strike pending another structural reform that has not yet found visionaries to take it to safety."
“This is a giant step that comes, not to be forgotten, days away from the anniversary of the August 4 explosion, which destroyed the heart of the city and seriously damaged our institute in its 25th year. ”
“Our hope is that our efforts will be successful and that international bodies will come forward to support us because we are running out of ammunition and today we are making a loud voice in front of everyone. ”
In conclusion, a memorandum of cooperation was signed between the President of the Public Procurement Authority, Jean Al-Aliyah, and the President of the Basil Fuleihan Institute of Finance and Economy, commissioned by Gian Al-Zaini, and the draft decrees of the Public Procurement Authority were handed over to the head of the caretaker government, Najib Mikati.
Certificates of appreciation were then distributed to the Panel of Experts.
Go ahead.
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## Background and Political Rise

Milei, a 53-year-old economist and television personality, entered politics only two years prior to his presidential victory.

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Content: The government has requested a safety report...
Mikati: The decision to retreat is easy, but is it for the benefit of the country?
The Cabinet session was held in the government companies, chaired by Prime Minister Najib Mikati, to examine an agenda of 73 items.
At the beginning, Mikati congratulated the Lebanese on the Day of Resistance and Liberation, saying: “This victory would not have been achieved without the unity of all Lebanese, and it is our duty today to work to preserve and strengthen this unity. ”
“Today ’ s session coincides with a campaign against the government by a political team in the country that is boycotting the sessions without providing a logical explanation for its position, ” he said.
More than six months have passed since the vacancy in the presidency of the Republic, and the presidential elections are still unknown, in light of the terms and conditions of the political parties represented in the House of Representatives.
In the face of this situation, is the government required to stop working in the institutions and disrupt the interests of the people permanently?
Is the government responsible for the presidential vacancy or are the deputies responsible?
Who said that the ministers participating in the government meetings do not represent all Lebanese segments?
Is it acceptable that the political dispute reaches the point of encroaching on the dignity of the people and their balanced presence in all forums? ”
He added: "The convening of the Council of Ministers and the conduct of government work to keep the cycle of institutions in place is not a provocation or a strike against the Charter, partnership and the Constitution, as some claim, but the striking of the Constitution and partnership is represented in the adoption of the approach of deliberate and multiple forms, and for years and waste time for personal goals.
It is very easy to make the decision to retreat, but is this an option in the interest of the country? ”
“The real beating of the partnership is to refrain from carrying out the national and constitutional duty to elect a new president of the republic, especially by the team that laments the vacancy of the president ’ s post and participates in the disruption of the election process, ” he said.
It is this same group that is inciting spiritual and political references against the government.
The irony is that the team that calls for the non-convening of the Council of Ministers is the same one that demands the inclusion of items on the agenda of meetings. ”
He continued: "What is required of those who ask the question if such sessions, such decisions, and such decrees are permissible in the absence of the president, to answer first the question: Why participate in the disruption of the election of the president, and what benefit is achieved from the disruption of the work of the state, the government and institutions?
Does this delay serve the election of the president and the Lebanese partner that the president represents? ”
He addressed the ministers by saying: “I salute you all, and I salute your presence.
This is certainly appreciated by all Lebanese in particular, and ironically, today marks one year since the government entered the caretaker phase.
Also on behalf of all of you, I salute His Excellency the Minister of Displacement Issam Sharaf al-Din, and he has all the respect and appreciation from us and those who represent him, and we are keen to cooperate and move forward with the files started by His Excellency. ”
He said: “Two days ago, a crackdown was launched against the government against the backdrop of news of a decision regarding the assistance provided to displaced Syrians.
Today, I met with the UN Coordinator for Humanitarian Affairs in Lebanon, and we agreed to develop a constructive formula for progress on this subject, according to the aspirations of the Lebanese state and the public interest, noting that the contract signed more than ten years ago with UNHCR provides for the delivery of aid in the currency that the UNHCR deems appropriate.
The campaign is surprising because neither Hector Hajjar nor I agreed to pay in dollars. ”
He added: "I am in the process of calling for a meeting of the Council of Ministers devoted to the file of displaced Syrians, in which all points are presented in preparation for the speech I will give at the European Union conference in Brussels, on the 15th of next month.
I instruct His Excellency Minister Sharaf al-Din to make preparations for the ministerial session and the meeting of the ministerial committee on the file of the displaced, which will be held before the special government session. ”
He concluded: “In the file of the governor of the Banque du Liban, we had discussed the issue in the consultative meeting that we held on Monday at length, and we agreed that the issue is in the hands of the judiciary and in accordance with the provisions of the Lebanese law.
We must not appear as if one side wants revenge and another wants protection.
The easiest thing to say today is to remove the governor!
But out of respect for the institutions and the views of the ministers present, and after the Deputy Prime Minister submitted a written memorandum on this file, I will now discuss the issue again to take the appropriate decision. ”
At the end of the session, Minister of Information Ziad Makari read the decisions, and said: “The Minister of Finance was tasked to submit an accurate report showing the repercussions of foreign prosecutions outside Lebanon against the Governor of the Central Bank of Lebanon on the performance of his duties and the impact of this on the functions of the Central Bank and the Minister of Justice to provide the appropriate legal opinion.
He also instructed the Minister of Justice to submit a report summarizing the details of the file of the governor of the Central Bank of Lebanon. ”
McCurry announced "the approval of the Council of Ministers to pay the full additional compensation approved by the Council of Ministers for the month of May in full, provided that the payment is considered as an advance to be deducted from the subsequent compensation in the event of proven ineligibility, provided that the departments refer the number of days of attendance to the Ministry of Finance."
He pointed out that "the lack of funds to pay wages starting in June, if the House of Representatives is not convened to approve the laws to open credits."
– Session items:
– A draft law to open an additional appropriation in the budget of 2023 worth 21 billion and 232 million pounds to cover the amount of temporary compensation for all public sector workers and retirees who benefit from a pension.
– A bill to open an additional appropriation in the 2023 budget worth one billion and 545 million pounds to cover the difference in the coverage of temporary transport compensation in public administrations for 2023.
– A bill to open an additional appropriation of one thousand billion pounds for the benefit of the General Security to achieve the issuance of biometric passports with their supplements for 2023.
– A draft decree to open a credit of 5,148 billion liras from the 2023 budget to cover the pension profile.
– The Ministry of Interior ’ s request to grant municipal employees three exceptional degrees, similar to public sector employees, in addition to miscellaneous, functional and real estate affairs and the signing of agreements.
An annex was added to the item of issuing a draft decree aimed at transferring the electricity concession to “Electricité du Liban ”, starting from the date of expiry of the concession.
It also included the mandate of Minister of Energy and Water Walid Fayyad to contract with an audit office accredited by the Electricity Corporation, to support the General Directorate of Investment in the completion of the clearance between the state and the concession.
Earlier, Mikati held a consultative meeting with ministers to discuss the current issues.

Title:

Content: Two events and an indication that took place last week suggest that there is a new rise of the extreme right in the world, from Europe and the United States to South America.
The three events are the electoral rise of the Dutch far-right Freedom Party, then the victory of the extremist Javier Milley in the presidency of Argentina, and the third indicator is the continued rise and lead of Donald Trump in the opinion polls.
The right-wing Freedom Party won 37 seats in the Dutch parliament, more than double its share, and will therefore have the upper hand in forming a government.
Geert Wilders, 60, founded his party in 2006 with the aim of defending Dutch, not European, culture and identity.
One of the party ’ s most important slogans is to fight against immigrants, especially Arabs, and it has called Moroccan immigrants “scum ” and organized competitions for cartoons offensive to the Prophet Muhammad (PBUH), and vowed to ban the Koran, mosques and the hijab.
He pledged to stop the tsunami of asylum seekers, impose strict controls to “protect Dutch identity and values ” and deport Syrian migrants.
He is also skeptical of the European Union and considers Brussels and its excessive bureaucracy a threat to national sovereignty, calling for greater control over laws, borders and economic policies and pledging to hold a referendum on his country ’ s remaining in the bloc.
The Freedom Party says it is a great friend of the only democracy in the Middle East, Israel, and that relationship will be strengthened by moving the embassy to Jerusalem and closing the Dutch cultural center in Ramallah.
The second important event was the victory of Javier Milley as president of Argentina, whose basic policies are almost identical to those of the Freedom Party in the Netherlands and other far-right forces and parties in the world.
He said his first foreign visit would be to the United States and he would meet with a number of Jewish rabbis there, because he follows their teachings.
The second visit will be to Israel, pledging to move his country ’ s embassy to occupied Jerusalem, and his foreign policy will focus on cooperation with the “American-Israeli axis ” and will not negotiate with leftist regimes such as Brazil and China.
The first to congratulate him was also the right-wing former Brazilian president Jair Bolsonaro.
Milley pledged to deal in the US dollar, abolish the central bank, abolish the health and education ministries, and privatize some major public companies.
But the irony is that the new president ’ s party, Freedom Advances, did not get any of the governors ’ posts, which are dominated by the Peronist movement, and he was also remarkable for saying that his country would not participate in the BRICS and did not intend to work with Russia, China and communist countries.
Millie also said he admired Trump and the latter said he would attend his inauguration.
The third indicator is that opinion polls indicate that Donald Trump is ahead of all potential challengers in the presidential election late next year.
A recent Harvard Center poll with The Hill found that Trump had 48 percent of respondents compared to 41 percent for current president Joe Biden, and even the uncertain 11 percent, when asked again, 53 percent said they would vote for Trump and 47 percent for Biden.
In November, a New York Times poll showed that Trump was five points ahead of Biden in Arizona, six in Georgia, five in Michigan, 10 in Nevada and four in Pennsylvania, while Biden was just two points ahead of Trump in Wisconsin.
From the previous events and indicators, it can be concluded in principle that with the sharp polarization in international relations, the severe economic crisis resulting from the Coronavirus epidemic, the Russian-Ukrainian war, inflation, recession and the Israeli attack on Gaza, the rise of far-right forces will continue in many countries of the world, especially Europe, especially the eastern side.
This means that in the next stage, the world will come to periods of intense polarization, conflicts and possibly wars.

Title:

Content: General Supervision
Elham Aboul Fath
Editor-in-Chief
Thank you for your patience.
General Supervision
Elham Aboul Fath
Editor-in-Chief
Thank you for your patience.
who doesn & apos; t like Fatima
The new president of Argentina.
Video & Photos
Argentina ’ s president, Javier Mille, 53, is on the news after announcing that his country ’ s economic situation would worsen before it improved and that “painful austerity ” was needed after he was sworn in by parliament, stressing that“ no government has inherited a legacy as bad. ”
With the wide international echo of the statements of the new Argentine president, who before assuming the presidency of Argentina as a liberal economist, appeared repeatedly on television programs and drew attention to his repeated criticism of the ruling establishment, which he accused of "banditry", pledging during political rallies to reduce public spending and the number of ministers, attention was turned to the search for aspects of his life, including his declared personality.
Fatima Flores, beloved of the Argentine president
Fatima Flores, the name of a woman who appears on media platforms hours after the inauguration of the Argentine president, Javier Mille, where she is rumored to be the lover of the new president of Argentina because of the presence of many pictures that combine them on several occasions.
In this report, we highlight the most important information about Fatima Florez:
Fatima Flores grew up in the town northwest of Buenos Aires, where the official residence of the presidents of Argentina is located.
Fatima Flores, 42, is the daughter of an architect and a history and geography teacher.
Fatima Flores has been a comedian known for her talents as a copycat and prominent presenter since the 2000s.
Fatima Flores
Fatima Florez has been in the spotlight for appearing several times with Argentina ’ s current president and economist, Javier Mille.
Fatima Flores ’ real name is Eugenia, but her producer and 22-year-old ex-husband, Norberto Marcos, suggested her pseudonym.
Fatima Flores and Javier Milley met in December 2022, on the sidelines of a TV show, but their relationship did not begin until a few months later, according to local media, two months before she separated from her then-husband.
Beloved President of Argentina
During the interview, Fatima joked to the politician: “You ’ re too lonely to do your important role, ” and in October, the couple returned to the chat program to confirm that they are dating, where Fatima explained:“ We started talking on Instagram and then we started seeing each other later. ”
In another part of the interview, Argentina ’ s new president said, “I ’ m so in love, ” then followed Fatima to explain how she officially separated from her husband on her birthday in February, likening it to the historic Battle of San Lorenzo in 1813.
After the interview, Fatima impersonated her new boyfriend in one of her shows, according to the Daily Mail.
Fatima Florez
The relationship was not revealed until last August, a week after the primaries aimed at nominating presidential candidates, raising questions in some media about the timing of the announcement.
For the first time just two weeks before the election, the couple appeared in public and then a few days ago and in the final stage before the vote, Fatima Flores was forced to deny the rumors of separation.
Last month, Javier shared footage of his girlfriend cheering him on one of his marches, commenting on the footage: “It ’ s the most beautiful flower! ”
I love you...
Long live freedom. ”
13- Last Sunday evening, Fatima appeared radiant alongside Javier Milley, greeting the public, will their relationship resist the fluctuations of power and media pressure?
Looking at the autobiography of the Argentinian president-elect.
In the past, Javier Mille has regularly presented himself as a follower of “free love, ” which is to have freedom for partners with other partners as well, and in an interview with Peruvian television channel America TV in 2020, he presented himself as a fan of triangular relations, Russia Today reported on Monday.
by Javier Milei
The 53-year-old president held his inauguration ceremony in Buenos Aires on Sunday, which was attended by nearly 30 world leaders and representatives, including Ukrainian President Volodymyr Zelensky and Hungarian President Viktor Orban.
Shortly after the all-day event, he was seen attending a performance of Madame Butterfly ’ s play at Teatro Colón, an opera theater often considered among the best in the world and located less than 10 minutes from Miley ’ s new residence, Casa Rosada.
The former professor and economist warned that he would offer a "shock cure" to the economy and committed to a programme of tough austerity measures in a bid to calm inflation, which hit 143% in October, the Daily Mail reported on Monday.
Moreover, Argentina ’ s currency, the peso, is in a long-term free-fall, with poverty levels rising to 40% and the economy in a deep recession, IMF data revealed.

He describes himself as a "chaotic capitalist" and has drawn comparisons to Donald Trump and Jair Bolsonaro.

Title:

Content: Enormous economic challenges await Italy ’ s first female prime minister | Politics and economics | In-depth analysis with a broader perspective than DW | DW | 04.10.2022
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Politics and Economics
Huge economic challenges await Italy ’ s first female prime minister
Experts believe that huge economic challenges await Georgia Meloni, who began consultations to form the Italian government. The Italian economy is plagued by many crises, especially high debt, inflation, weak economic growth and an ageing population.
"Thank you Italy", a banner raised by Giorgia Meloni, after her far-right coalition won the election.
Like Trump, Georgia Miloni has raised the slogan “Italy first. ”
The electoral victory of the right-wing coalition led by the Fratelli di Italia (Brothers of Italy), led by Georgia Meloni, caused no turmoil in the financial markets of Italy, the third largest economy in the European Union after Germany and France.
Following the announcement of the election results, Italy ’ s main stock index (MIB) rose slightly the following Monday, while the closely watched spread between Italy and Germany ’ s 10-year debt barely moved through Friday ’ s close of 230 points.
The measure of interest rate differentials is a measure of government debt risk, and it last saw a dramatic rise to 300 points when outgoing Prime Minister Mario Draghi announced the collapse of his government in July.
Anthony Buffett, senior price analyst at ING Group, said it was an indication that markets were “at peace with the prospect of a government led by Giorgia Meloni. ”
He added that this goes beyond that, especially after the Meloni alliance got enough votes to ensure political stability, but these votes are not enough to change the constitution.
Ludovico Sabio, a European economist at British bank Barclays, said in a Reuters poll that the risks of tensions within the Meloni alliance appeared “low ” but warned that they could escalate“ in the medium term. ”
Miloni ’ s alliance includes Matteo Salvini ’ s League and Silvio Berlusconi ’ s Italy Forward.
A grim picture?
Observers believe that the formation of the government of Meloni, 45, will take about a month; although obtaining a large majority would speed up the process of forming a government.
Until a new government is born, Draghi will remain head of a caretaker government and a new draft budget is likely to be submitted to the EU by a mid-October deadline.
The new budget proposal paints a bleak picture for the Italian economy, with GDP growth likely to reach 1% next year, significantly down from the 6.5% growth rate in 2022 and down from the 3.3% growth target in 2022.
In contrast, credit rating agency Fitch says the Italian economy will contract by 0.7% in 2023.
Given the weak economy, Meloni will have less fiscal space to implement her own policies, including urgently needed interventions to help families and businesses deal with the current energy crisis and the fallout from rising inflation.
The victory of the right weakened the position of Germany and France on the reform of the European Union and the introduction of the rule of decision-making by majority, not always unanimous
Accumulation of debt
In March last year, the Italian government ’ s efforts to combat the fallout from the economic crisis led to a 159.4% rise in the debt-to-GDP ratio, the highest ever in Italy and the highest in the European Union after Greece.
But Mario Draghi over the past year has pushed these rates down a downward trajectory, especially in light of a better-than-expected recovery.
In doing so, Meloni now faces the challenge of maintaining the downward trajectory of borrowing, even as the energy crisis is exacerbated by the fallout from Russia ’ s war in Ukraine.
The Italian government this year spent €66 billion, or 3% of GDP, on tax breaks and subsidies to help poor businesses and households pay their energy bills as gas and electricity prices rise, the highest in the European Union.
The measures are due to expire in November, with Italy ’ s finance ministry estimating that an extension until the end of the year would cost the government 4.7 billion euros.
Georgia Miloni is Italy ’ s first female prime minister.
The Energy Crisis: The First Test
After the election, Matteo Salvini, leader of Italy ’ s right-wing League party, a key ally of Miloni, said the energy crisis would be “the first test of the new government. ”
The plan to temporarily reduce the retirement age to 64 is due to expire in December, while Salvini wants the plan not to be extended, given that increases in pensions must take into account inflation and rising wages.
The issue of pensions is linked to an ageing rate and falling births, putting pressure on public spending.
As a result, spending will rise sharply in Italy, while it is reported that maintaining current programs to lower energy prices will cost the state about 14 billion euros next year.
Careful, my money.
But what may strengthen the position of the Miloni government will come from the European Union, especially its €750 billion recovery fund, where Italy will receive the lion ’ s share of the fund through grants and loans worth €200 billion over the next few years.
To make matters more optimistic, the European Commission is paving the way for Italy to receive 21 billion euros after Rome made many conditional achievements for such financial support following reforms in public employment, taxation and healthcare.
Greetings from Europe
After her election victory, Commission President Ursula von der Leyen congratulated Meloni in a message that reflected European hopes for continued cooperation with Rome on the path of reforms initiated by Draghi and hopes that Meloni would soften her anti-EU rhetoric.
Known for her Eurosceptic rhetoric, she wants to renegotiate part of the European aid package in light of the fallout from the energy crisis.
In return, she pledged to abide by EU rules on the size of public spending, a move that could facilitate talks between Brussels and Rome.
Fear and anxiety spread among refugees and migrants in Italy after the rise of the far-right to power.
A little skepticism.
But some experts have doubts about Meloni ’ s ability to stem rising public spending, especially amid growing pressure from Salvini, who has called for EU demands to be ignored.
In an interview with Reuters, Paolo Grigani, chief economist at Oxford Economics Research, said: “Given that the right-wing coalition did not focus on structural issues in its election campaign or even in its manifesto, we doubt it will carry out the necessary reforms. ”
In light of this, the ECB is expected to closely monitor the financial performance of the new Italian government and its ability to reform.
The European Central Bank has embarked on a new programme to buy government bonds to help debt-laden eurozone countries such as Italy deal with high interest rates as a result of the ECB ’ s anti-inflation policies.
But the calm in financial markets after Meloni ’ s victory reflects investor confidence in its ability to deliver on its promise of fiscal prudence, but disagreements with the European Union over spending and reforms could upset investor confidence in Italy ’ s new government.
He summons an army of speculators, waiting in the wings to test the ECB ’ s resolve to rescue the alliance in southern Europe.
Uwe Hessler / RB
Related Topics

His rise to prominence occurred during Argentina's worst economic crisis in two decades, characterized by hyperinflation (143%), widespread poverty (affecting 40% of the population), debt crises, and currency devaluation.

Title:

Content: World News
Mikati in Parliament: The budget is compatible with the circumstances and there is no increase in taxes to be mentioned and "elect a president and leave us"
The head of the caretaker government, Najib Mikati, pointed out that "over the course of two days I listened to the discussions of the deputies and their views and most of them are constructive and contribute to correcting what must be corrected on the basis of fruitful cooperation between the government and parliament."
He pointed out, in a session to discuss and approve the 2024 budget, that "there are those who believe that his survival in the political scene depends on the operation of the swearing machine and lack of fitness and stirring up strife, thinking that he lures us to respond to it in the same language and has missed that he does not deserve praise or satire."
Mikati explained that "today we are in the session to discuss the budget, which is one of the most important priorities of governments because it primarily ensures the financial regularity of the state," adding that "the adoption of the budget is one of the most important tasks of the parliament to ensure the continuity of the public utility and the regularity of the state accounts and to complete the proper democratic path."
He stressed that "parliamentary work has recently become a station for media duels, especially if we look objectively at the substance of the amendments that are adopted during the discussions."
Mikati said that "the difference in starting points and views within the logical framework of the topics presented is of the nature of the work and its duties, but some classify it as catastrophic acts in order to build false glory on them."
He said: "What caught me during the discussions is the attempt of some to divert attention from his direct responsibility and the responsibility of the deputies to elect a new president of the country by accusing the government and me personally of confiscating the powers of the President of the Republic and the coup against the Constitution," adding that "the accusations that have been leveled can not be tolerated and go unnoticed, especially as I stress at every session of the Council of the need to elect a new president."
Mikati pointed out that "the behavior adopted at this particular stage is consistent with the decision of the Constitutional Council, which issued a decision under the number 6 / 2023, according to which the issue of the constitutionality of the government sessions and the constitutionality of the mechanism adopted to hold them and how to take the decision in the Council of Ministers."
“Any argument to disrupt the cabinet is flimsy and they say that you rejected draft laws from the government, which at the time was named Petra, and the reasons were in the absence of the entire Lebanon component from the cabinet, ” he said.
Mikati continued: "Today the government is chartered and complete, and when I asked them to do so, they said: Not everyone who is crucified on his face is a Christian, and this statement is shameful and an insult to the ministers participating in the government, their presence and the great work they are doing."
He stressed that "the responsibility of the Prime Minister means to bear responsibility and the responsibility is linked to the authority, it is illogical and unacceptable to say the responsibility of the Prime Minister and regardless of the powers and authority granted to him by the Constitution."
Mikati explained that "according to Article 64 of the Constitution, the prime minister is the head of the government of all Lebanon and is responsible for the implementation of the general policy of the government has the right of leadership and authority over the Council of Ministers, ministers, departments and public institutions and to monitor and supervise the implementation of this policy."
"I have initiated and will remain an initiative to direct the necessary books to the ministers when necessary to get them to carry out their duties because any failure is borne by the Prime Minister," he said, "I will continue to do everything available by virtue of the Constitution and dictated to me by my national conscience and the public interest and ensure the continuity of the functioning of public facilities."
Mikati stressed that "in the course of the discussions also we heard accusations of the government handing over the country's decision to political parties and this accusation is absolutely false."
He pointed out that "our firm and repeated position focuses on the commitment to all international resolutions and agreements since the armistice agreement signed in 1949 to resolution 1701 and all relevant international resolutions," adding: "We reiterate our demand for a ceasefire in Gaza because it is the obligatory gateway to all solutions." We are calling for a diplomatic solution under the auspices of the United Nations, "he said.
“Since the first day of the Gaza war, I have declared that the decision of war is not in our hands, but in Israel ’ s hands, and the Lebanese critic and supporter will know the content of this message, and we are calling for a diplomatic solution under the auspices of the United Nations, ” Mikati said." A decision will be made to impose a permanent cessation of the war in Gaza to provide humanitarian assistance to the besieged population of Gaza, which will allow for the reconvening of mediation sessions for the exchange of prisoners and detainees. "
He called for "the reconvening of tripartite meetings to resolve the remaining disputes between Lebanon and Israel through the implementation of all UN treaties and resolutions, from the 1949 ceasefire treaty to the implementation of UN Resolution 1701," and for "an international initiative aimed at a lasting solution to the Palestinian-Israeli conflict and the revival of the two-state initiative that will guarantee just and comprehensive rights for Palestinians and sustainable security for Israelis."
Mikati stressed the commitment to "keep the war away from Lebanon and the diplomatic and negotiating approach remains the real gateway and guarantee to achieve lasting stability, starting with the cessation of aggression on Gaza and the initiation of a just and fair solution to the Palestinian issue based on the establishment of two states," calling on the international community to stop Israeli violations, provocations and attacks on Lebanon.
On the file of displaced Syrians, he said: "It did not save effort on the issue of displaced people and raised this file in all international forums in order to reach the desired solutions," revealing that "I received the latest data from the United Nations Organization for Migration and the Directorate General arranges them and does all the necessary measures to alleviate this suffering."
On the budget, Mikati stressed that "this budget is not the ideal budget in normal circumstances, but a budget that is compatible with the economic, security, social and international conditions experienced by Lebanon, without forgetting the negative regional climates that affected the movement of the country."
He said: "We have sought and continue to rescue and address the successive crises since 2019, most notably the suspension of banks and COVID-19 and the explosion of the port of Beirut," noting that "we are working to preserve the rights of the depositor through projects and proposals that must cooperate between the government and the parliament to put them on the path of solution."
Mikati added that "the draft budget law 2024, which we are discussing, addresses the priorities of the government and establishes to start recovery from the impact of the suffocating crises experienced by the country in recent years and to complete what has been achieved with the budget of 2022 in terms of unifying the exchange rate to promote imports and remove funding pressures from the Central Bank of Lebanon."
He pointed out that "the stability in the exchange rate recently resulted from the increase of state imports and the withdrawal of liquidity from the markets as well as the refusal of the Bank of Lebanon to pump liquidity in the markets," explaining that "it is known that the state budget in 2019 amounted to more than 17 billion dollars, while in 2022 we managed the country about 800 million dollars."
He stressed that "we were able to stop the collapse and began to recover seriously and we have in the account 36 in the Bank of Lebanon more than 100 thousand billion pounds in cash and we have more than one billion dollars, including 150 million fresh and 850 million dollars."
Mikati said: "We have to look for the waste that has been happening in the past years, for example, a public institution with a monthly budget of $1 million and we managed it with $28,000."
“It is true that there is a need for structural reforms in several areas such as tax evasion, the fight against smuggling and corruption, and the modernization of some outdated laws, but these structural reforms do not produce a result in the near term, but in the medium and near term, ” he said.
Mikati said that "in the meantime, there is a need to spend on salaries, wages and social sectors such as health and education and address the issue of poverty and these sectors need the largest proportion of revenues mentioned in the draft law on investment expenditures."
He pointed out that "we are now working on several reforms, including the review of the tax reform law and customs reform and the review of the law of public accounting as well as the reform of the public administration and mechanization."
He said: "At the beginning of the administration I indicate that in the next session of the Council of Ministers we will raise as promised the issue of giving financial incentives to the public sector," explaining that "some deputies raised the issue of administration by demanding to send a comprehensive survey on the administration to the House of Representatives and we have met the request and sent a full study of about 200 pages on the reality of the administration in full."
Mikati stressed that "the administration is decreasing either by retirement or resignation, either with regard to the assignment or the agency in the first category when vacant."
"We have 32 vacant positions, 14 managers have been assigned to fill the vacancy gap within the 14, including 8 from the same communities and 6 from non-original occupants," he said.
Mikati explained that "for the file of maritime public properties, the previously estimated revenues were about 56 billion L.L.
However, as a result of the government ’ s issuance of Decree 11258 / 2023, the estimated revenues within the draft budget for the year 2024 amounted to 2550 billion LBP. ”
He stressed that "the government, through the Ministry of Public Works and Transport, has concluded a memorandum of understanding with the Directorate of Geographical Affairs in the Army Command to conduct a new comprehensive survey of the entire occupation of maritime properties and mechanize this information."
He said: "A preliminary reading of the results of the survey showed that there are very large differences between the areas authorized to occupy and those actually occupied by trespassers on these properties, which will inevitably raise revenues to double what is required."
He explained that "as for the unification of the exchange rate, the trend is to avoid the large fluctuations that emerged during the previous periods, but there is no intention to stabilize the exchange rate, which we paid high prices as a result of linking it rigidly to the US dollar," stressing that "to implement the goal of unifying the exchange rate, the Banque du Liban is studying all means to achieve it and to avoid all possible disadvantages."
Mikati pointed out that "the economy has seen some growth after negative growth for several years, but full recovery needs all the reforms contained in the government's reform program, but any reform process falls over an extended period of time to the medium-term, while the budget remains the horizons of one year."
He said: "The desired reforms to promote the economy pass through the legislation of laws independent of the budget, some of which the government has referred to the Council pending approval and others will be sent to the Council of Representatives in the coming weeks."
Mikati pointed out that "today we are discussing the budget that we sent in the required deadlines, as for the draft laws sent and the recovery plan were linked to deadlines in order to be an incentive to accelerate the study in the House of Representatives and we are ready to study them together and accept any proposal to finance them."
He asked, “Why is the budget more expensive than its practical framework? ”
However, listening to different points of view and proposals is constructive and beneficial to the public interest if it comes away from populist exaggeration for political gains. ”
He stressed that "the adoption of the budget on its constitutional date is part of the government's plan aimed at enabling stability, which positively affects the living conditions in the country and supports the movement of advancement and economic growth to fight inflation and address the issue of public debt and avoid deterioration in the exchange rate."
Mikati stressed that "it must be noted that the success in securing the stability of the exchange rate from May 2023 came as a result of the radical improvement in the revenues of the treasury due to the correction of customs duties and taxes and others, and the impact of conservative financial management and this allowed to curb sharp fluctuations," adding "it is necessary to resort to the adoption of an exceptional rule in securing state funding through treasury advances in order to continue the public utility and secure basic public services for citizens The necessary and necessary appropriations and under exceptional circumstances," pointing out that "we do not hide this subject or deny it, but we demanded what would ensure the regularity of the status of those advances in financial and legal terms through a draft law approved by the government and sent to your esteemed Council."
He said: "Imports were in the range of 230 thousand billion liras in 2023 and we disbursed from them, including advances approved in the Council of Ministers 204 thousand billion, and we were forced to do this for the public interest and the management of the state and fulfill its obligations."
Mikati explained that "there was a keenness not to create financing needs beyond the available capabilities, which contributed to the stimulation of stability in the exchange rate and the re-strengthening of reserves in foreign currencies."
He pointed out that "one of the most important objectives of the draft budget 2024 to enable the financing capacity of the treasury, which remains today the pillar of financial and monetary stability as well as the most important element for the sustainability of public administrations and institutions and the provision of services to citizens and the reconstruction of an effective economy."
We are sure that the credits do not note the debt service actually incurred and the arrears in this area. ”
Mikati said: "The great attack in terms of taxes and fees has a lot of populism and profiteering, there is no increase in taxes, and the amendment of fees is not the burden talked about by some MPs," explaining that "the financial authorities do not seek to impose an additional tax burden on the citizen as some tried to portray and inflate it by suggesting that the government wants to steal the incomes of citizens and companies."
He stressed that "the financial authorities do not seek to impose an additional tax burden on the citizen, as some tried to portray and inflate it by suggesting that the government wants to steal the income of citizens and companies," noting that "we are in a continuous pursuit of constructive and positive cooperation away from populism and militarization, which does not benefit and certainly not its time today."
Mikati said: "Whoever loves passivity at all to stand by and let us work, the country needs effort and we as a caretaker government do everything we can to manage the affairs of citizens and secure the functioning of public facilities," noting that "we are working to manage the affairs of all ministries, even those whose ministers boycott the government sessions because our goal is to serve the citizen and his interests."
At the end of his speech during the budget session, Mikati addressed the deputies by saying: “Elect a president and leave us. ”
This was the details of the news of Mikati in parliament: the budget is in line with the circumstances and there is no increase in taxes is mentioned and "elected a president and leave us" For today we hope that we have succeeded by giving you the details and full information and to follow all our news you can subscribe to the alerts system or one of our different systems to provide you with all that is new.
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Content: “A chaotic capitalist. ”
Who was elected President of Argentina?
2023-11-20 | 06: 31
Alsumaria News – Dawliyat
A controversial television personality, he has long been likened to former US President Donald Trump, and indeed the latter was one of the first to congratulate him after his election as president of Argentina.
Who is Javier Milly?
Mili won about 56 percent of the vote in Argentina ’ s presidential election, according to partial official results reported by AFP.
His opponent, Economy Minister Sergio Massa, won about 44.2 percent after 95 percent of the vote was counted, and he already conceded defeat and congratulated Mili in a phone call.
One of the first commentators on the news of Millie ’ s election was Donald Trump, who wrote on his social media platform, Truth Social: “I ’ m proud of you.
It will change your country and make Argentina great again. ”
U.S. Secretary of State Anthony Blinken issued a statement on Monday saying the election was “a testament to Argentina ’ s electoral and democratic institutions, ” noting that Washington“ looks forward to working with President-elect Milley and his government on shared priorities. ”
Man of Economics and Music
Milley, 53, describes himself as a “chaotic capitalist, ” and the economist only entered politics two years ago.
His victory comes at a time when Argentina is trying to solve the problem of inflation, which has reached 143 percent, one of the highest in the world, poverty afflicting about 40 percent of the population, as well as the debt crisis and the devaluation of the local currency.
Videos of Milly went viral after he was sure to win the election in a state of great joy.
According to the Guardian, Millie “suffered as a child due to the mistreatment of his parents, as well as bullying at school during the 1980s. ”
Argentina ’ s president-elect loves music, has previously been a lead singer for a band and has always loved Bob Marley and Verdi.
Milley gained fame during his television appearance as an economic analyst, where he often talked about suffering due to inflation, as well as talking live about sexual topics.
The Guardian report noted that Millie ’ s character “was always meant to attract attention, which helped him enter the world of politics. ”
His friends and foes alike likened him to Trump and also to Brazil ’ s former and right-wing president, Jair Bolsonaro, whom he called “Trump Argentina. ”
"The lesser of two evils."
Mili was elected to Argentina ’ s parliament in 2021 for La Libertad Avanza, before taking office amid voter anger over corruption and mismanagement following the country ’ s worst economic crisis in two decades.
According to AFP, some Argentines described the vote as the choice of "the lesser of two evils", between fear of the painful economic solutions proposed by Mili and anger at the economic crisis.
Milley pledged to find a solution to the economic crisis in the country, beginning with the closure of the central bank and the disposal of the local currency (peso) and dollarization of the economy and reduce spending and get rid of the "parasitic class", which met with the approval of voters despite the difficulty of these measures.
But some experts believe that Milley "will retreat from his hard-line policies and will be forced to moderate as he takes the reins next month, because of the difficulty he may face in implementing his plans, with his party holding 38 seats in the upper legislative chamber of the country, out of 257 seats, while in the Senate it has 8 seats out of 72."
During his campaign, he made promises similar to what Trump has long talked about for America, and said he would “make Argentina great again, ” the slogan for Trump ’ s campaign,“ Make America great again. ”
“Today the end of decadence begins, and the reconstruction of Argentina begins, ” Argentina ’ s president-elect said on Sunday, warning that there would be“ no half-solutions. ”
Addressing thousands of supporters at his campaign headquarters in Buenos Aires, Milley said: “The poor class model is over, and today we are adopting the model of freedom to once again become a world power.
Today the way politics were practiced ends, and another way begins. ”
Milley will assume the presidency on December 10, succeeding President Alberto Fernandez.
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Aye.
Aye.
They will face international rejection.
They will face international rejection.
Their arrival is dangerous for them.
Their arrival is dangerous for them.
The results reflect the views of the participants and are not a measure of public opinion.
The results reflect the views of the participants and are not a measure of public opinion.
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After the World Cup...
Argentina is facing a difficult economic situation.
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DECEMBER
2022
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The Argentine capital, Buenos Aires, witnessed huge celebrations after the victory of the national team in the World Cup, in an achievement that raised the spirits high in the South American country and brought joy to the hearts of people hurt by high prices and the malaise of the economy.
But despite the glare of victory in a thrilling final against France, the grim economic reality is casting a dark shadow over Argentina, with inflation at around 100 percent, tight capital controls, poverty at around 40 percent and a looming fear of default.
The 86-year-old, who was celebrating her country ’ s victory, said: “The World Cup is an overwhelming joy that revives us after suffering a long economic crisis.
But soon we will have to go back to reality and face the situations that burden us every day. ”
Argentina ’ s resounding victory, the first since Diego Maradona lifted the trophy in 1986, sent millions onto the streets to cheer Lionel Messi ’ s national team as a vent of frustration at leaders who have failed to get the economy on track for years.
The crowds were huge and very high.
It has been estimated that between four and five million people filled the streets.
The concourse had to take a shortcut and the players were taken to helicopters to fly over the city.
But after the drunkenness of the victory and its celebrations came the idea and the Argentines returned to reality and its painful realities.
The country, once one of the wealthiest in the world, posted annual inflation of 92.4 percent in November and a record interest rate of 75 percent.
Issues of cash printing, overvaluation of the peso and the decline in foreign reserves are exacerbated.
Investors are concerned that Economy Minister Sergio Massa, who was appointed to fix things in August, is not carrying out enough reforms amid the prospect of a general election late next year that the government fears losing.
Ted Mann, chief equity analyst for emerging markets at Alliance Bernstein, said: “Masa is just trying to address every problem that comes to its head and is very careful not to make any significant reforms before the 2023 election.
Under Massa ’ s leadership, Argentines are exceptional at kicking problems in front of them.
They're better at kicking her than Messi kicking the ball. "
Required Kick
But some Argentines are more optimistic.
Osvaldo Hassan, a 62-year-old trader in Buenos Aires, said: “The World Cup gives us hope and a desire to believe.
"This could be the push we need to build consensus and move the economy forward."
Camilla Gotelli, 25, a marketing professional, said the “historic ” win could boost Argentina by attracting more tourism, creating jobs and strengthening the country ’ s global standing.
A paper from the University of Surrey found that winning the World Cup could give a small boost to a country ’ s economy in the months following the win, helping boost exports.
In the short term, it could also give a boost to leftist President Alberto Fernandez.
His popularity has plummeted due to the impact of the COVID-19 pandemic and economic woes, despite a new $44 billion deal with the IMF this year.
Carlos Zarate, a 63-year-old trader in the capital, believes this will be in the government ’ s favor for a few days “because it will distract people ”.
As soon as summer in the southern hemisphere is over, "the blow of reality will come."
Last month, ratings agency Moody ’ s criticized Argentina, citing rising central bank debt as a risk to financial stability.
Standard & Poor ’ s has downgraded its rating of Argentina ’ s already struggling local currency bonds to an “undesirable ” rating.
Graham Stock, chief strategist at BlueBay East Management, said he expected positive economic changes from next year ’ s election after a change of government became a rarity after the ruling coalition suffered a crushing defeat in the mid-term last year.
Maria Belén Pereira, 32, an elementary school teacher, said economic changes would not happen overnight and needed the participation of everyone, not just the football team.
"We celebrate because (the team) represents us as a country, but that was the sacrifice of almost 30 people...
For the economy to change, we must all participate. ”
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What economic issue did Milei want to address?

What economic issue did Milei want to address?

What economic issue did Milei want to address?

What economic issue did Milei want to address?

What economic issue did Milei want to address?

What economic issue did Milei want to address?

What economic issue did Milei want to address?

What economic issue did Milei want to address?

What economic issue did Milei want to address?

## Economic Policy Agenda

### Core Reforms

Milei's economic platform centers on

Title:

Content: Argentina's inflation edges up in June, breaking monthslong streak in blow to President Milei

A closely watched measure of inflation in Argentina remained stronger than the libertarian government of President Javier Milei would have hoped

ByISABEL DEBRE Associated Press
July 12, 2024, 5:29 PM

BUENOS AIRES, Argentina -- A closely watched measure of inflation in Argentina remained stronger than the libertarian government of President Javier Milei would have hoped on Friday, as the official statistics agency reported prices edging up in June and breaking a monthslong streak of declines.

Argentina's consumer price index rose 4.6% in June, slightly up from the rate of 4.2% in May, ending a five-month trend of cooling inflation that experts had attributed to a deepening recession brought about by Milei's brutal austerity scheme. President Milei has touted the falling prices over recent months as a key victory in his fight against Argentina’s worst economic crisis in over two decades.

When Milei became president last December, monthly inflation was peaking at 25%. But the price drop since hasn't offered much relief to ordinary Argentines as Milei presses on with a harsh austerity program that involves slashing generous energy subsidies, scrapping price controls and devaluing the Argentine peso.

Friday’s government report showed Argentina’s annual inflation slowing a bit to just over 271% — still among the highest rates in the world.

Surging electricity and gas prices accounted for most of June's inflationary spike, the statistics agency said. Argentines have reported eye-watering utility bills after years of paying highly subsidized rates under left-leaning governments.

In stark contrast to Milei's program, those past Peronist administrations fixed prices and printed billions of dollars’ worth of pesos to fund a large deficit — fueling chronically high inflation.

Under Milei, Argentina's energy ministry last month reported that low-income households that previously paid just 5% of the real cost of electricity have started paying a third of it while middle-income households now cover at least half following Milei's removal of subsidies. The government has also capped electricity consumption to qualify for subsidies, squeezing families as a cold front sweeps Argentina during the Southern Hemisphere’s winter.

The country's cost of living has surged nearly 80% in the first five months of 2024 compared to the same period last year, the report also showed. Prices in Buenos Aires shops and restaurants have reached levels comparable to the U.S. even as public salaries and pensions have been held down.

In further worrisome news for Milei, the peso on Friday fell to another record low against the dollar, hitting 1,500 on the black market after months of stability.

The steep fall in Argentina’s currency means the gap between the black market rate and the official exchange rate, currently 919 pesos to the dollar, has widened to over 50%. That complicates Milei's goal of eventually lifting Argentina's strict currency controls to restore investor confidence.

Milei's government wants the International Monetary Fund — to which Argentina already owes a staggering $44 billion — to step in with a new loan to support his plans to remove capital controls.

But as uncertainty remains over the future of Milei's economic program, the IMF dampened expectations of a new deal on Thursday.

“The staff will engage in discussions on a possible new arrangement as we would with any IMF member," the fund's spokesperson, Julie Kozack, told reporters Thursday. "At this stage, there is no specific timeline for those discussions.”

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Protests against new president's reforms
27-12-2023 | 16: 15
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Several thousand people demonstrated in the Mexican capital Buenos Aires to express their opposition to the reforms announced by Argentine President Javier Miley, calling them illegal.
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People gathered in the square in the centre of the capital, where there are courthouses, and on nearby streets, without blocking streets or disrupting traffic.
Earlier such mass movements were accompanied by road closures and created many problems for the city's residents.
President Javier Milley has threatened to use force against protesters blocking traffic.
Milley earlier signed an emergency decree on more than 300 reforms to liberalize the economy, covering all areas, in particular, the abolition of the current law on rental housing, which tenants and owners were not satisfied with, and the abolition of price regulation practiced by the previous government, which set a ceiling on the prices of essential goods.
(Russia Today)
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