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Melconian gave a new prognosis and said that the Government is going to have to self-castrate

Melconian gave a new prognosis and said that the Government is going to have to self-castrate

“The next administration is going to catch something rough, worse than 2015“, he remarked bluntly.

In a criticism of Sergio Massa and his management of the economy, Melconian stated: “in the fourth week of June 2022, the idea of ​​having to reach the other shore arose. And from there we have to discuss what is now called economic policy “.

“In the dollar area, Argentina has a super trap. The only thing that flows is exports” but he assured that the high demand for dollars prevents seeing the benefits of exports.

In relation to the soybean dollar in its second version, the analyst affirmed that it is an “advance income”: “the soybean two is different because you eat next year’s income.” However, he affirmed that this income does not seem to be enough to face the obligations: “there must be 10 billion dollars of import payments that were not granted. It is an abnormal situation to arrive. A challenge is coming in 2023.”

“These efforts do not break the model. They ratify it and that is why the devaluation expectation is not broken. The minister has not been able to resolve it,” he added.

“In this process of crossing to the other shore, the devaluation expectation has not been broken. You use income from next year,” he added.

Alert for debt in pesos

In the area of ​​pesos, Melconian anticipated that the government will be forced to “castrate itself.” “They are going to have to self-castrate themselves from requesting income from 2024 to 2023.”

“Argentina needs a Moncloa of the external sector, a Moncloa of the debt. I am a member of the transition. I don’t like the quilombo.”

“A fiscal deficit financed with external debt ends badly. Internal debt in pesos to finance a fiscal hole that never ends? Ends badly. Fiscal deficit financed with monetary issue. Inflation. It was understood that there cannot be a fiscal deficit, you have to adjust.”

Source: Ambito

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