Argentina’s senate has dealt a blow to libertarian President Javier Milei’s campaign to balance the country’s budget by overwhelmingly approving an increase to pension spending.
Senators voted 61-8 on Thursday in favour of a new formula for calculating pensions, updating them to more fully account for Argentina’s triple-digit inflation.
Milei has vowed to veto the bill, though the wide margin of support it received in both the lower and upper chambers of congress means legislators would likely be able to reach the two-thirds majority needed to override that.
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