This noon the minister of economy Luis Caputo talks to businessmen Inter-American Trade and Production Counciln (CICyP) and among other things assured that “Stability is here to stay.”
“This scenario we are in was studied and is turning out as we expect.”“, he stated and wanted to make it clear to the businessmen that there is not going to be a change in this situation. “V“Let’s continue because we are going to follow this same course.”said.
“This point was not reached by chance. We have not been lucky, but because what had to be done was done. “We arrived with a dollar of 1,100 and we continued with a dollar of 1,100, when many were predicting up to $8,000.”he recalled..
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The minister made an analysis of the “inheritance” received from the previous administration and assured that “it really was the worst in history” and recalled that in the first moments of the government “We went for a very orthodox monetary and fiscal program.”
Among other things, he acknowledged: “Although today we are not well, in perspective with what we have inherited we have to be more than satisfied with what we have achieved,” said the head of the Treasury and mentioned the fiscal balance, falling inflation, the repurchase of just over 10 billion dollars of reserves “all this in a political context that is very complex for us,” he admitted.
But from every point of view he sought to bring peace of mind to businessmen: “We are not going to deviate from the path”, he assured. ““It’s not that we don’t understand the game of politics as many say, but that we don’t want to play it guys,” phrase that earned her the applause of those present.
He also spoke about governanced. “The ideal would be the path we are following accompanied by politics because if we do it faster we will get out. But, If politics does not accompany us, we will continue with the same course and That will not change. And that should leave you calmer. And if that happens, a little earlier or a little later, we’ll get out,” he said.
Strong support from CICyP businessmen for the direction the government is taking
Before Captuo’s words, Marcos Pereda, president of CICyP supported the measures that the government has been takingoy recalled that “Argentina was walking along the edge of hyperinflation, excessive issuance and lack of foreign currency that was leading us to the terminal crisis,” he said,
“The government took immediate and forceful measures,” praised Pereda and stated that “the speed of the changes outlined reveals a different climate that makes us dream of a different Argentina.”
However, the businessman acknowledged that “social reality challenges us in a dramatic way.” He spoke about poverty and asked to face “profound changes.” “It is essential to consolidate the achievements obtained and reverse the economic recession we have been in since 2012. The time is today and now to get out of stagnation and grow. “Argentina must and can be competitive.”
For that called for “clear rules” for investing and trading, without abrupt changes. “In the business sector we must work side by side with the government to achieve a degree of competitiveness that allows us to grow in the world,” she said.
Among other things, the businessman He asked Minister Caputo to assemble sectoral teams to seek competitive improvements that would allow the country to open to international trade.
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Among other things, Pereda recognized that the CICyP “support for the reforms and concern to avoid new frustration.”
The CICyP has expressed itself in favor of the structural reforms proposed by the government of Javier Milei, to the point that it opportunely supported the DNU and stated that it is leading the country “towards its modernization”, through a document that was signed by its president. , Marcos Pereda.
Caputo with businessmen
The head of the Treasury has just over 100 days at the head of the economy, and remains determined to lower inflation, which seems to be showing signs of slowing down for March, although the recession that the country has been experiencing since the previous year continues. In fact, yesterday the data was released that the GDP in 2023 closed with a fall of 1.6%.
In fact, inflation in February reached 13 percent, although the government is studying the possibility of applying some measures to contain it or lower it even further.
In the next few hours, the head of the Treasury Palace acknowledged that people are going through a bad time and took the opportunity to thank society for its support to the management despite “what it costs to make ends meet.”
Thanks to the people for supporting.
Despite how difficult it is to make ends meet, they know that we are on the right path and that we are going to get ahead.
I hope the leadership also supports so that the recovery comes as soon as possible 🇦🇷🇦🇷— totocaputo (@LuisCaputoAR) March 20, 2024
Likewise, he was convinced that the measures are moving towards a “correct road”.
“Thanks to the people for supporting. Despite how hard it is to make ends meet, they know that we are on the right path and that we are going to get ahead,” expressed on his social network account X.
Furthermore, he stressed that “Hopefully the leadership will also support so that the recovery comes as soon as possible”in clear allusion to the opposition, whose members rejected the omnibus law in the Chamber of Deputies and the DNU in the Senate.
Developing…