Argentine government struggles to build on 'successes'

Significance If the revised bill is approved by the Lower House it will mark the first legislative success for President Javier Milei, who completed his first six months of government on June 10. Impacts Unemployment is an increasing citizen concern; some 95,000 formal jobs were lost in the first four months of the government. Doubts over governance and reform prospects are driving market uncertainties and a rise in country risk. If Milei’s approval ratings begin to fall significantly a regrouping congressional opposition will gain strength. Achievements such as a small fiscal surplus and a sharp drop in inflation have carried an economic cost that may prove unsustainable.