Argentinian President Javier Milei criticized Congress on Friday in a nationwide broadcast for approving various laws that altered the budget distribution planned by his far right government.

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In the speech, Milei announced two measures: first, he will sign a regulation to “prohibit the Treasury from financing primary spending through monetary issuance,” and second, he will send a bill to Parliament to “penalize the approval of budgets that include a fiscal deficit.”

The presidential message, recorded Friday afternoon, comes amid a fierce dispute between the Executive Branch and the opposition ahead of the legislative elections. Last month, the opposition, led by Peronism, united to pass several measures in the National Congress, including raises for public universities, a declaration of pediatric emergency, and the repeal of decrees dismantling public agencies.

On July 10, the Parliament approved an emergency law establishing a “special” 7.2% increase in pensions.

Milei alleges these measures aim to “destroy the fiscal surplus” his government is promoting, which would lead to an increase in the national debt if implemented.

To “fortify” the “zero deficit” he has proclaimed since taking office, Milei said he will sign a regulation to legalize preventing the Treasury from financing primary spending, a practice his government has followed since the beginning. He also promised to introduce a bill to Congress that would sanction some types of national budgets, adding that he will impose “criminal penalties on legislators and officials who do not comply with these new fiscal rules.”

The text reads: President Javier Milei will submit a bill to Congress to PENALIZE the approval of national budgets that incur a fiscal deficit.

Since the start of his administration in December 2023, the ultra-liberal government has extended the 2023 national budget as it has failed to gain parliamentary consensus for new spending plans.

Milei’s speech had a strongly campaign-oriented tone, as Argentina will hold provincial and national elections between September and October to renew seats in Congress and local legislatures.

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