The Minister of Productive Development, Matias Kulfashighlighted this Monday that “2021 ended with a deep recovery productive” and some sectors with new highs, such as steel production, which was the highest since 2014, and oil, the highest since 2011.
In reference to the last report of the Center for Production Studies (CEP XXI) where it was pointed out that the industry closed the year with highest level of activity in three yearsthe minister highlighted that in the international comparison, the Argentine industrial recovery was one of the highest in the world compared to 2019.
“In January-November, we grew 6.4% against 2019, above the main countries except China,” the minister highlighted from a great recovery in the automotive industry (38% of car production and 16% of exports in compared to 2019), among other sectors.
The year 2021 ended with a profound productive recovery.
I open a thread based on the recent Productive Outlook Report prepared by the @CEPXXI.https://t.co/pszjVw9DFt pic.twitter.com/CeIzn0ygqO
– Matías Kulfas (@KulfasM) January 24, 2022
In this regard, he said that “the automotive improvement is explained because we changed the industrial policy” since “the patenting of national cars went from 29.9% of the total to 50.2% in two years. That allowed boosting production.”
“This change in production policy explains in part why the economic recovery was so much stronger than expected: 10% versus 5.5% that we estimated at the end of 2020,” Kulfas said.
In this regard, the minister added that “more production is more work. Compared to the second quarter, in the third quarter of 2021, 250,000 jobs were created across the economy. Advance data for the fourth quarter show a continuation of that trend.”
“Industry has been a key part of that recovery. With Macri, formal industrial employment fell in 46 of 48 months of government. Now we have been recovering for more than a consecutive year, and we have 40,000 more jobs than in 2019,” said the minister,
Kulfas concluded by noting that “as Alberto Fernández says, the path is production and work. 2021 ended with a thriving level of activity. We are going to work as hard as possible so that the recovery continues and reaches more and more Argentines.”
