Argentina: Javier Milei announces deregulation of economy

Argentina's newly-elected president Javier Milei has announced that he plans to change the country's economic system by deregulating it using his presidential powers.

He said he aims to change more than 300 regulations to lay "the foundations for the reconstruction of the Argentine economy and restore freedom and autonomy to individuals, removing the State from their shoulders."

"The goal is to start along the path to rebuilding the country," Milei said in a speech broadcast on television and radio.

Milei has vowed to pull Argentina out of economic distress but has warned that economic "shock" treatment is the only solution.