Among the most important points of the Tigrense plan are the recovery of reserves and reduction of the deficit to comply with the guidelines proposed in the agreement signed with the International Monetary Fund.
“We are going to look at the economic-productive side standing on two axes. One linked to principles and the other to engines. As for the principles: fiscal order, trade surplus, strengthening of reserves and development with inclusion. As for the engines: investment, production, exports and defense of the domestic market,” he announced.
One by one, the measures announced by Sergio Massa
1- Deficit. “We are going to meet the goal of 2.5% of the deficit. We are going to make all the necessary corrections.”
2- Temporary advances. I gave the instruction to the Secretary of the Treasury not to use the balance of advances from the Treasury for the remainder of the year. Likewise, on Monday there will be a refund to the BCRA for $10,000 million on the way to cancellation, which we will try to continue.
3- Freezing of the State plant. “The freezing of the national State plant governs, but in addition each jurisdiction will be responsible for the decentralized companies that will also be affected by this limitation. They must submit a sworn statement month by month of the status of their plant.
4- Segmentation. “Almost four million Argentine households did not request to maintain the subsidy and that is a first cut. Among the 9 million who did apply for the subsidy, we are going to promote consumption savings.”
“In light we are going to subsidize up to 400kw, reaching 80% of users but only 50% of total residential consumption. In the case of gas, the removal of subsidies will follow the same logic, but respecting the seasonality of the different regions of the country”.
5 –Trade surplus.
- New regimens. “We are going to promote and defend every dollar of every Argentine (…). We are going to promote by DNU regimes for agribusiness, mining, hydrocarbons for increased production and knowledge economy, with benefits.”
- Complaints of triangulation of underinvoicing of exports and overinvoicing of imports. “We are going to denounce cases of underinvoicing of exports and overinvoicing of imports before the Argentine justice system and the anti-money laundering unit of the United States.” A registry will be opened for 60 days for companies to rectify their position before Customs. There are more than 13 thousand operations of 722 companies that are being targeted.
- Promotion of export financing. “We will launch a credit program at promotional rates, and a guarantee scheme for leading exporters. We want to sell more Argentine work to the world”
- Traceability of Foreign Trade. “We will implement a foreign trade traceability system for greater control and transparency in the use of foreign currency for imports.”
Source: Ambito
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