Pensioners marched in procession on Wednesday in Buenos Aires to protest the veto by Argentine President Javier Milei of a law passed by Congress to increase the minimum pension. Police pushed back protesters who were trying to block a road and used pepper spray.
On August 22, Argentina’s Senate approved a bill to increase pension benefits by more than 8 percent, but Milei vetoed it on September 2. The country’s ultraconservative, self-described libertarian president vetoed the measure, calling it “irresponsible” and “exorbitant.”
With Milei’s Libertarian Party controlling less than 15 percent of Congress, the populist outsider has largely relied on far-reaching executive orders to implement a harsh austerity programcutting public spending and deregulating the Argentine economy.
Although the government has managed to slow down the price increase, the cost of living increased by 4% in July and cumulative inflation in the first seven months of the year reached 87%.
Interannual inflation is around 263.4% at a time when the minimum monthly pension is around 225,000 pesos (233 dollars) and a basic basket of food, medicine and other goods and services for an adult exceeds 291,000 pesos (301 dollars).
