The Argentine Chamber of Deputies has in principle approved a comprehensive legislative package presented by the far-right liberal government led by President Javier Milei, after a marathon session that lasted three days.

After about 30 hours of discussions, 144 deputies voted in favor of the reform package on Friday, compared to 109 deputies who opposed it.

The package, which includes about 300 laws, stipulates transferring part of the legislative powers to the government for two years, privatizing many state-owned companies, and introducing amendments to tax and election laws.

Once the package is approved in principle, discussions on individual laws will begin next week. The Senate must also approve the bill.

It is noteworthy that Milei does not have a majority in Congress and had to carry out intensive negotiations in recent weeks to push parliament members and other parties to support his project.

A statement from the presidential office said: "History will respectfully remember those who understood the historical context and chose to end class privileges and did something for the people who have fallen into poverty and hunger for years because of the political class."

Economic expert Milei, who took office as president in Argentina in mid-December last year, announced a process of radical reforms in the country amid a severe economic crisis, where the inflation rate exceeded 200%, and about 40% of the country's population lives below the poverty line.

Argentina - the owner of the second largest economy in South America - suffers from an oversized administrative apparatus, low productivity of the industrial sector, and a large shadow economy that deprives the country of significant tax revenues.

The Argentine currency, the peso, continues to lose more of its value against the US dollar, and the volume of debt is expanding steadily.