At the end of the meeting with Massa, Georgieva supported the work of the head of the Treasury Palace highlighting, in a statement, “the strong steps that he and his economic team have taken to stabilize the markets and reverse a scenario of high volatility.
“The minister expressed his clear intention to mobilize external support, accentuate efforts to stabilize the economy and guarantee sustainable growth with inclusion, under the principles of fiscal order and the strengthening of reserves,” Georgieva added.
The agency’s spokesman Gerry Ricehad anticipated in a press conference, last Thursday, that the technical agreement would be ready in “the next few days” and that they are “all looking to get this done as soon as possible.
Argentina’s commitment to meeting the goals set with the IMF is reflected in the 2023 Budget, which was sent to the National Congress last Thursday.
Items were included in it, such as the cut in subsidies, which are in line with the requirements of the international organization to favor the achievement of the established objectives.
In this sense, Georgieva, in the aforementioned statement, highlighted “the fiscal parameters and underlying policies to secure the existing primary deficit targets of 2.5% of GDP in 2022 and 1.9% of GDP in 2023, with an emphasis on better targeting of subsidies to energy, transport and water, along with better prioritization of spending and tight budget management.
In the project sent to Parliament, the Government estimates an inflation of 94.5 percent for 2022 and 60% for 2023. In turn, it projects a growth of 2.5% for the economy for next year and a deficit of 1.9%, in line with what was agreed with the Fund.
This Monday, the president, Alberto Fernandez, will have a meeting in New York with Georgieva, after which the approval of the review of the Fund can be announced. The president is in the United States to attend the Assembly of the United Nations (UN).
Source: Ambito
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