The recent announcement by the Argentine president Javier Milei to veto the Law of University Financingapproved by Congress, has generated an intense debate in the country. This decision, which Milei justified with her commitment to maintain a zero fiscal deficit, has been received with mixed reactions both in the political and academic spheres.
The Law of University Financing The law was approved by the Senate in a session that lasted until dawn. This law provides for a budget increase of 738.595 billion pesos for national universities, with the aim of updating the budget items every two months taking inflation as a reference throughout 2024.
The project was celebrated by the National Interuniversity Council (CIN) and various teachers’ unions, who considered it a triumph for public education in Argentina. Despite the approval in Congress, Javier Milei confirmed that he will veto the law.
At a cabinet meeting, the president confirmed his decision, arguing that “zero deficit is not negotiable.” This position is not new for his administration, as he had previously vetoed the pension reform with similar arguments.
Official spokesman Manuel Adorni had left the door open to a possible reconsideration, but Milei ultimately decided to maintain his strict fiscal line of action. Milei’s decision has sparked a wave of reactions in the political arena.
While some sectors support the government’s commitment to fiscal balance, others criticize the measure, considering that it negatively affects public education. Teachers’ unions, in particular, have expressed their discontent and have declared that they will remain on alert to defend the law and demand its enactment.
Senate
During the debate in the Senate, Senator Martín Lousteau stressed that the fiscal impact of the law is only 0.14 points of GDP, which is equivalent to 600 million dollars. This argument has been used by the defenders of the law to question the need for the presidential veto, suggesting that the measure would not endanger the country’s fiscal balance.
The veto of the Law of University Financing has significant implications for public education in Argentina. National universities, already facing financial challenges, will see their abilities limited to update their budgets in line with inflationThis could affect the quality of education, university infrastructure and teachers’ salaries.
