In a lapidary diagnosis of the Argentine economy, he stressed that Argentina’s GDP this year will be “equal to 2006” and that Argentina will enter an economic stagnation with high inflation with a deepening fall in real wages.
In a debate with his colleagues Claudio Zuchovicki and Marina Dal Pogetto, the former official assured that the Massa Plan “is one of partial balance” and questioned whether the negotiations carried out with some sectors go beyond the media (in particular, those related to the field).
On the podium, Redrado proposed five key measures to get out of the crisis:
- Tax laws: deindexation of public spending variables to anchor expectations. Render accounts in the public function on a quarterly basis to provide predictability.
- monetary laws: prohibit the BCRA from financing the public sector, reduce transitory advances by half, change the charter.
- For the private sector: the development of a debt capitalization program. Private sector buy public titles with productive investment projects. This includes the tax system: incentives to broaden the tax base, simplify taxes, fiscal federalism. Elimination of gross receipts. Efficient tax administration.
- Foreign trade: reduce withholdings to zero and boost exports.
- National Infrastructure Law to move towards a multimodal transport that allows us to “integrate productively with the world”.
When presenting his ideas, Redrado called them “superior options” and highlighted the need for the country to improve its international negotiations to win markets.
In that sense, he proposed “a modernization of the tax structure, a boost to exports, zero withholdings for the increase in exports in all sectors of our economy and a national infrastructure law that allows us to productively integrate with the world.”
“Argentina needs a stabilization and growth program, with a convergence of laws in monetary and fiscal matters, with tax incentives for growth and that have support in Congress“, he insisted, in addition to expressing his wish that “this can happen in the short term.” Regarding the situation, the economist was skeptical that there could be transcendental changes until 2023.
Source: Ambito
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