The Minister of Economy, Martín Guzmán, pointed out this Friday that “stability is necessary that allows us to get out of short-term thoughts in Argentina” and comply with the plans outlined, which will allow growth to be supported.
Guzmán made these statements in Salta, where he met with Governor Gustavo Sáenz and held a meeting with more than 200 representatives of local SMEs.
The minister affirmed that “to the extent that it is possible to act programmatically, complying with the plans outlined, it will be possible to strengthen the economy, have more reserves and reach 2023 with a growing economy and with conditions to continue doing so” .
The national official stressed to businessmen and legislators that there is “a necessary condition to sustain economic growth in Argentina, which is the generation of foreign exchange.
In this framework, Guzmán highlighted macroeconomic consistency “is fundamental and is an issue that must be built collectively” so that the country “can act in a programmatic way and that it does not allow so many changes of course as it has happened other times in history ” Argentina.
Guzmán assured that the country “continues to grow” and remarked that “the first quarter of 2022 shows an economy that continues to recover”, after having grown 10.3% last year. Even, “in a world where the pandemic was deeply unequal, Argentina managed to reduce inequality. In fact, it was lower than in the first quarter of 2017,” said the official.
“Income distribution is fundamental. We need a more equitable country but it is also necessary to grow. We need stability that allows us to get out of short-term thoughts in Argentina”, emphasized Guzmán.
The minister and the governor of Salta signed the agreement of the Fiduciary Fund for the Development of the Provinces, which will make it possible to extend the terms of payment of the debt before that national body, maintaining the same interest rates, which will represent a fiscal relief of $1,489 million for the Province
The national official stressed to businessmen and legislators that there is “a necessary condition to sustain economic growth in Argentina, which is the generation of foreign exchange. When the country grows, it requires more imports, and in order to sustain that growth, the only way to make it sustainable is with exports growing”, as happened last year when there was a “very strong increase, not only in values but in quantities”.
For that “there has been a scheme of productive policies and adjustment of export rights that generated greater competitiveness” and the State “contributed to shore up economic recovery, investing in infrastructure and knowledge to apply it to production,” the minister said. He has a doctorate and a master’s degree in economics.
Guzmán assured that the country “continues to grow” and remarked that “the first quarter of 2022 shows an economy that continues to recover”, after having grown 10.3% last year
Faced with Governor Sáenz’s criticism of the subsidies that are mainly concentrated in the City and Province of Buenos Aires, Guzmán responded that “the governor’s idea that there is less asymmetry in energy subsidies is well founded” and stressed that the national government “Work hard on it.”
“That has to do with the role that the State plays; when it is spent on a certain thing in excess, it implies that those resources are not used to invest in what can generate a stronger and more dynamic comparative advantage for Argentina to have better conditions of competitiveness against the world”, said Guzmán.
The minister and the president also signed the agreement of the Fiduciary Fund for the Development of the Provinces, which will make it possible to extend the terms of payment of the debt before that national entity, maintaining the same interest rates, which will represent a fiscal relief of $1,489 million for the province.
