The president of the Central Bank (BCRA), Miguel Pescerecently spoke about the economic growth that the country has achieved, after signing the agreement with the International Monetary Fund (IMF).
Although the negotiation was signed only a month ago, the Economist pointed out that “Argentina is showing signs of improvement and reactivation”, however Miguel Pesce He also acknowledged the impact the country has suffered from the war.
Miguel Pesce He indicated that both the pandemic and the conflict between Russia and Ukraine complicated the economic outlook in the country, but despite this, growth is already beginning to be seen.
“Argentina came from two critical years (2018 and 2019), with a lot of inflation, then the pandemic and the war appeared”; Nevertheless, “last year, the product grew more than ten percent, and this year it is giving a growth of nine percent”.
In this sense, although the president of the BCRA acknowledges “the rise in international prices for imported energy and other inputs for production”, he also points out that there are great expectations for this year.
“Argentina is a country rich in energy, but we are also food producers and we have begun to exploit its mining wealth and the knowledge industry. That’s where our country will emerge and grow.”
Also in dialogue with Radio 10, Fish indicated that in order to achieve such growth, “It is essential to develop the capital market in pesos, to transform the savings of millions of Argentines into investment in infrastructure”.
However, the official also stressed that it will be essential for the Government to contain inflation, so that the country can see greater economic development in 2022.
Miguel Pesce criticized the agricultural sector protest
Part of the growth that the country has had in economic matters has been due thanks to the agricultural sector, for which President of the BCRA, dismissed the “tractorazo” carried out by the sector.
This, since according to Pesce, “the field has very good levels of profitability, so there is no reasonableness in the protest. They are much better than between 2017 and 2018.
