Argentina's Milei pledges 'significant' tax cuts if congress approves reforms

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Argentina's Milei pledges 'significant' tax cuts if congress approves reforms
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- Argentine President Javier Milei said on Saturday he would apply a"significant" tax reduction if Congress approves a bill to reduce state intervention in the economy.

Milei had hoped to have his sprawling economic reform package already approved and to sign a pact with regional governors this month. That effort has been stalled by resistance in congress where he only controls a minority of seats. The package is key to his plans to overhaul the embattled country's economy, with inflation near 300% and years of strict capital controls warping trade. The economy is also sinking into recession and he has instituted tough austerity measures.

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