Argentina Prepares Sweeping Deregulation Package, Seeks Delegated Powers

Argentina's government is advancing a sweeping new economic deregulation package, signaling a significant push to reshape key sectors of the nation's economy. The proposed reforms, developed by the Ministry of Deregulation and State Transformation under Federico Sturzenegger, target historical rules in sensitive areas.

Changes are planned for medicine sales, river navigation, and the real estate market. The package also includes adjustments for rural leases, the wine industry, the book market, bottled gas systems, the financial sector, public translators, and cooperatives. The overarching goal is to lower costs, boost competition, and eliminate barriers to entry across these economic activities.

A particularly contentious element is the government's consideration of requesting six months of delegated legislative powers from Congress. This would allow President Javier Milei to enact further deregulations via decree, bypassing the standard legislative process for specific areas. Such a move mirrors earlier attempts during the "Ley Bases" legislation, which faced significant hurdles.

The administration has accumulated several stalled initiatives in Congress, including a package on private property that would permit foreign ownership of national lands and expedite eviction processes. Other shelved projects include "Hojarasca," aimed at repealing outdated or restrictive economic laws, and a new General Companies Law proposing a more flexible corporate regime incorporating blockchain and AI. The government's reliance on decrees and delegated powers underscores its urgency to implement reforms amid legislative challenges.