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Governors To Meet Government Officials Friday To Discuss Milei’s Social Pact

ARGENTINA
  • According to a government press release last night, the country’s provincial governors will meet with government officials at the presidential palace on Friday to discuss President Milei’s proposed social pact. Governors and officials will also discuss the approval of Milei’s omnibus bill in exchange for fiscal relief, according to the statement.
  • To recap, in a speech to congress on Friday, President Milei called on political leaders to sign onto his social pact, a list of ten goals for his administration including a zero deficit, tax reforms and budget cuts. He hopes to reach agreement on this pact at a summit on May 25.
  • In other news, Argentine business chamber CAME reported that consumer spending at small-and medium-size businesses fell by 25.5% y/y in February, as real incomes are squeezed by rampant inflation. On the data front today, February vehicle sales, production and exports data will be published later. Tomorrow, attention turns to January IP data, alongside January current account and February trade.
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