Milei retreats even further to pass property bill amid backlash

Javier Milei’s government faced significant opposition as it struggled to pass private property legislation in Argentina. The bill, introduced in March, initially eliminated caps on foreign land ownership, but this provision was removed in favor of a version that raised the foreign ownership limit to 25 percent. However, the government had already abandoned a key section that would have eased land-use restrictions following fires.

The bill faced intense backlash, with protesters outside Congress clashing with security forces for several days. Milei's approval ratings have plummeted, with 62 percent of Argentines disapproving in July, compared to 37 percent who approved, according to a recent survey. Despite retaining a potential path to re-election, Milei's popularity remains far from overwhelming, and his efforts to spur private investment in the crisis-prone nation are facing considerable challenges.