"The congressional setback arrives as Milei's political party faces slumping popularity headed into a midterm election. Argentina's struggling President Javier Milei has suffered a new setback as Congress overturned his vetoes of laws increasing funding for public universities and for paediatric care. On Thursday, senators invalidated both vetoes, which had already been rejected by the Chamber of Deputies, bringing to three the number of laws upheld by Congress despite vehement opposition from the budget-slashing Milei."
"The Senate's vote comes as the United States-backed Milei struggles to end a run on the national currency, the Argentinian peso, in the run-up to the crucial October 26 midterm elections. The 54-year-old right-winger, in power since December 2023, has been on the ropes since his party's trouncing by the centre-left in Buenos Aires provincial polls last month. Those elections, seen as a bellwether ahead of the midterms, shredded his aura of political invincibility and sent markets into a tailspin."
Congress overturned President Javier Milei's vetoes on laws increasing funding for public universities and paediatric care, marking three laws upheld despite Milei's opposition. Milei has implemented deep austerity policies to shrink government and warned the new spending would jeopardise fiscal balance. The Senate vote occurred as the peso faced a run and Milei confronted slumping popularity after a centre-left trouncing in Buenos Aires provincial polls, which unsettled markets. Public disenchantment and anger over cutbacks have emerged, and Milei has struggled to build alliances with governors. The US has discussed a $20bn swap line to shore up the peso, and external support has been signalled, but a strong midterm result is seen as crucial to preserve economic gains.
Read at www.aljazeera.com
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