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The May 25th Pact (in Spanish Pacto del 25 de Mayo), commonly known as the Pacto de Mayo, is a pact proposed by Argentina's
President
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*'' Præsident ...
, Javier Milei
Javier Gerardo Milei (born 22 October 1970) is an Argentine politician and economist who has served as President of Argentina since 2023. Milei also served as a national deputy representing the City of Buenos Aires for the party La Libertad ...
, to the governors of the 23 Provinces of Argentina
Argentina has 23 provinces (, singular ) and one autonomous city, Buenos Aires, which serves as the federal capital, as determined by Congress.
The provinces and the capital have their own constitutions and exist under a federal system.
...
as well as to the head of government of the capital, Buenos Aires
Buenos Aires, controlled by the government of the Autonomous City of Buenos Aires, is the Capital city, capital and largest city of Argentina. It is located on the southwest of the Río de la Plata. Buenos Aires is classified as an Alpha− glob ...
. It is based on 10 outline points proposed by the government.
Details
On March 1, 2024, Milei announced the Pact during the opening of the 142° ordinary session of theNational Congress National Congress is a term used in the names of various political parties and legislatures.
Political parties
*Ethiopia: Oromo National Congress, original name of the Oromo People's Congress
*Guyana: People's National Congress Reform
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**In ...
.
The ten points are:
#The defense of private property
Private property is a legal designation for the ownership of property by non-governmental Capacity (law), legal entities. Private property is distinguishable from public property, which is owned by a state entity, and from Collective ownership ...
#Balanced budget
A balanced budget (particularly that of a government) is a budget in which revenues are equal to expenditures. Thus, neither a budget deficit nor a budget surplus exists (the accounts "balance"). More generally, it is a budget that has no budge ...
#Reduction of public spending
Government spending or expenditure includes all government consumption, investment, and transfer payments. In national income accounting, the acquisition by governments of goods and services for current use, to directly satisfy the individual o ...
#Tax reform
#Renegotiation of federal tax sharing
#Provinces will exploit natural resources
#Labor reform to promote formal labor
#A provisional reform of pensions
#Political reform
#Free trade
Free trade is a trade policy that does not restrict imports or exports. In government, free trade is predominantly advocated by political parties that hold Economic liberalism, economically liberal positions, while economic nationalist politica ...
The Pact was postponed due to issues with the Law of Bases and Starting Points for the Freedom of Argentines
The Law of Bases and Starting Points for the Freedom of Argentines is an extensive economic reform omnibus bill proposed by President of Argentina, Argentine President Javier Milei on 27 December 2023. It was passed in the Argentine Senate and r ...
and the fiscal packet in the Plenary Commission of the Argentine Senate
The Honorable Senate of the Argentine Nation () is the upper house of the National Congress of Argentina.
Overview
The National Senate was established by the Argentine Confederation on July 29, 1854, pursuant to Articles 46 to 54 of the 185 ...
. In spite of the pact not being signed by the agreed date (chosen after the May Revolution
The May Revolution () was a week-long series of events that took place from 18 to 25 May 1810, in Buenos Aires, capital of the Viceroyalty of the Río de la Plata. This Spanish colony included roughly the territories of present-day Argentina, ...
), it kept the same name. After the approval of the Law of Bases and Starting Points for the Freedom of Argentines and the fiscal packet, on June 20, during the Argentinian Flag Day in Rosario
Rosario () is the largest city in the central provinces of Argentina, Argentine province of Santa Fe Province, Santa Fe. The city, located northwest of Buenos Aires on the west bank of the Paraná River, is the third-most populous city in the ...
, Milei renewed the invitation to the governors on July 9 in the Casa de Tucumán
The Historical House of Tucumán (, officially "Casa Histórica de la Independencia") is a historic building and museum located in San Miguel de Tucumán, Argentina, built during the Colonial Argentina, colonial times. The Congress of Tucumán work ...
. During the 208° anniversary of the original Argentinian Independence Declaration, the Pact was signed by the attending governors.
References