BUENOS AIRES (Reuters) – Argentine President Mauricio Macri on Thursday vetoed a bill passed in the early morning hours by the Senate that would freeze energy and water prices, as political tensions deepen in the economically ailing country.
Macri’s cabinet chief, Marcos Pena, told reporters that Macri rejected the measure as soon as it reached his desk.
“Argentina has to make a more of an effort to get closer to having a balanced budget,” Pena said. “The law that limits utility price increases is vetoed.”
Macri, elected in 2015 on a pro-investment platform, has cut utility subsidies, forcing Argentines to pay higher monthly bills. His fiscal belt-tightening program has not gone down well with members of the Peronist opposition, particularly those allied with the country’s previous leader, Cristina Fernandez.
(Reporting by Maximiliano Rizzi and Hernan Nessi; Editing by Steve Orlofsky)
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