The measures include liberalization of mining and other industries, and will see the removal of regulations covering the property rental market, export customs arrangements, land ownership and food retailers.
The decree will also amend current rules within Argentina’s aviation, healthcare, pharmaceutical and tourism sectors in an attempt to encourage greater competition.
In a pre-recorded broadcast, Miley said: “Today we take our first step to ending the regression model in Argentina.
“I have signed an emergency decree to begin dismantling the oppressive institutional and legal framework that has destroyed our country,” he added.
“The goal is to get started on the path to rebuilding our country, restoring freedom and independence to individuals and beginning to change the vast amount of regulations that have hindered, stunted and halted economic growth in our country.”
After the announcement, people in some neighborhoods of Buenos Aires banged pots to show their disapproval.
“Cacerolazos” – loud anti-government protests in which people bang cooking pots – have been symbolic in Argentina in recent years when people want to express their anger.
Hundreds of demonstrators also organized an impromptu march outside the Argentine Congress building, chanting: “Our country is not for sale!”