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ARGENTINA: Protests As Milei Vetoes University Financing Bill, Vehicle Sales Due

ARGENTINA
BulletEM BulletEmerging Market News
  • President Milei faced fresh protests yesterday over planned budget cuts to higher education. The protests came as Milei vetoed a bill that would raise financing for universities, according to a decree published in the official gazette. The bill would increase university salaries to compensate for 2024 inflation and then adjust salaries for inflation going forward. The government’s offer of a 6.8% salary increase was rejected by the universities.
  • In other news, a power outage hit southern parts of Buenos Aires on Thursday, affecting some transport systems. According to a resolution published in the official gazette, the government will prepare a contingency plan to reduce or mitigate power shortages during 2024-26, including imports of energy from neighbouring countries and incentives to boost investment in transmission infrastructure.
  • On the data front, vehicle production, sales and exports figures for September are due today. These will be followed by the latest BCRA analyst survey tomorrow, ahead of September CPI inflation data next week.
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  • President Milei faced fresh protests yesterday over planned budget cuts to higher education. The protests came as Milei vetoed a bill that would raise financing for universities, according to a decree published in the official gazette. The bill would increase university salaries to compensate for 2024 inflation and then adjust salaries for inflation going forward. The government’s offer of a 6.8% salary increase was rejected by the universities.
  • In other news, a power outage hit southern parts of Buenos Aires on Thursday, affecting some transport systems. According to a resolution published in the official gazette, the government will prepare a contingency plan to reduce or mitigate power shortages during 2024-26, including imports of energy from neighbouring countries and incentives to boost investment in transmission infrastructure.
  • On the data front, vehicle production, sales and exports figures for September are due today. These will be followed by the latest BCRA analyst survey tomorrow, ahead of September CPI inflation data next week.