Guzman: "We point to a growth in the formalization of work"

Guzman: "We point to a growth in the formalization of work"

The head of the Palacio de Hacienda ratified that “export duties will not be increased.”

The Minister of Economy, Martin Guzmanaffirmed on Tuesday that “the generation of work and employment is recovering”, while pointing out that “we point to a growth in the formalization of work”.

Guzmán, in statements to the cable channel C5N, maintained that “We have a very active, very broad social protection policy and we adapt that policy to the circumstances”while relativizing the universal income project by pointing out that “we are analyzing it.”

The head of the Palacio de Hacienda clarified that “this is going to take time because growth with employment can be given continuity. This will not be resolved in one, two or three years.”

“In Argentina, employment is being created, not destroying employment”the minister maintained, later adding that “more than 1.1 million jobs were created in the year and the unemployment rate fell from 13% to 7%, with the activity rate growing, that is, with more people looking for a job.”

In reference to the wagesGuzmán added that “in Argentina, the personal distribution of income improved and is more equitable, while the functional distribution worsened because the 2021 recovery was not homogeneous but heterogeneous. The sector that cost the most recovery was the services sector because it is very labor-intensive and it is the least trained and that is what explains why we have seen a growth in real wages in registered sectors but a drop in real wages in unregistered sectors”.

In relation to the increase in the non-taxable income tax minimum for the IVth category, Guzmán said that “we were going to raise the earnings floor because there is an external situation that puts pressure on prices and it is required that the salary beats inflation and that is why we raised it.”

The minister emphasized that “the lack of political order when uncertainty is generated about the direction of policies is a situation that is not good.”

Refering to May inflation forecast, Guzmán remarked that “we are in mid-May and inflation is slowing down”, to later highlight that “with the inflation we have, it is important that wages beat inflation”, referring to the revision clauses of the joint discussions. “Inflation is a problem for the functioning of the economy and wages are being reviewed,” the minister emphasized.

The head of the Treasury Palace confirmed that “export duties will not be increased, the decision is made by the President and each official must respect the President’s decisions. In order to continue the economic recovery, Argentina needs dollars if If we prohibit exports or raise withholdings, no more dollars will come in.”

Guzmán argued that “the accumulation of Bookings It is a fundamental pillar of economic policy, in order to anchor inflationary expectations”.

Finally, in relation to the ratesthe minister said that they will be adjusted “by approximately 42% on average. What matters are the policies and what we want is a State that contributes to a better economy. To continue freezing the rate is to redistribute from those who pay taxes to the sectors of higher earnings”.



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