The Minister of Economy, Sergio Massa, assured that the Gross Product of the year 2022 will be “well above 5%” and remarked that “you can fight against inflation and order spending without cooling the economy and proposing painful adjustments.”
He also assured investors who “will have our full support” and urged that “we work to recover the income, because the middle class and the Argentine laborers had a bad time.”
noted that His expectation for 2023 is “to grow more than three points”and remarked that “the path is credit recovery, consumption capacity recovery, and the other great path is income recovery.”
In this way, Massa explained, “It would be the third year of consecutive growth, and Argentina has not grown for a long time for three consecutive years”in statements published this Sunday by the newspaper Perfil.
He valued the decline in inflation in recent months and insisted that his goal is to reach April with a price index “with 3 ahead”, because “inflation, to my liking, is still high” and because “the worst enemy of wages is inflation”.
“The Argentine economy still has room to grow in consumption volumes, in production volumes”
“Maintaining the activity level of product growth this year will be well above four points, the three and a half points that most economic consultants and international organizations projected for Argentina. Far above. It will be well above 5%“, he emphasized.
He further asserted that “We had growth in the level of activity against November of last year and against October, so it is possible to fight against inflation and order spending without cooling the economy and posing painful adjustments.”
After mentioning the growth in the year-on-year activity level of last October and November, he stressed that “inflation can be fought and spending can be ordered without cooling the economy and proposing painful adjustments.”
production and consumption
He specified that Argentina has a “historical 70%” of installed capacity in industrial parks, and that on average the level of activity “is above 68%.”
“The Argentine economy still has room to grow in consumption volumes, in production volumes”assured the minister to indicate that “this year” one of the main agenda items is “access to credit.”
In addition he assured: “we are going to improve the distribution of income in a scheme in which we make them recover in parities, above inflation, to the workers.”
“When we look at the level of credit against Product, of the population and of Argentine companies, it is still very small compared to the countries that have a greater development of the internal market,” which “limits our production volumes.”
He explained that as production volumes are “very tied” to the consumption capacity of citizens, “what ends up happening is that sometimes the accumulation of stock is better than the sale of balances”.
He added that “a large part of the problem to be solved as a consumer society has to do with restoring credit capacity to people, to SMEs, but above all to the middle class.”
In a sample of how the different economic topics are linked, He added that the Government asked the companies that participate in the Fair Prices program that “of the production they had this year, we would like them to plan a six or seven growth in the supply of goods.”
He stressed that “we have to excite our companies, our SMEs” but also “there must be market purchasing power, and that is salary recovery and recovery of credit capacity,” he insisted.
Regarding the exchange marketMassa, said that his objective “is to build a path that will lead us to a regime of exchange normalization and access to the capital market.”
And he insisted on the importance of increasing exports, for example, in the knowledge industry and human capital: “Argentina manufactures large satellites and nanosatellites, a ton of satellite is worth seven hundred times more than what a ton of noodles is worth” .
