“We are on the right track, with good results in general terms. The picture of the recovery in economic terms is very good and it has already been announced that it will be 9% or more”said Brigo during his speech at the IAEF meeting.
The official raised his presentation in five management axes: sustainability as a State policy, permanent dialogue with all stakeholders, promotion and development of the capital market, financial inclusion and increasing the investor base.
Brigo recalled the challenges that were proposed, as a Finance team, at the beginning of the management in December 2019: “At that time the first issues to be resolved were the debt with bondholders, the reconstruction of the market in pesos and obviously solving the indebtedness with the IMF, which unfortunately had not been used to improve the country’s productive capacities. “
Regarding financial inclusion, he emphasized the agreements that are being carried out with different universities so that “90% of Argentines who already have an account can use it with all the available tools.”
He also highlighted the progress made in the capital market, which allowed “improvements in financing for companies of 72% more than last year, and we will surely reach 80% by the end of the year.”
Another point highlighted by the Secretary of Finance was “the reconstruction of the peso market, which allowed us to guarantee genuine financing. In fact, we are accepting 90% of everything offered by the market and we achieved an additional financing of $ 500,000 million in what is the year “.
Regarding an eventual agreement with the IMF in the short term, he affirmed that “it is progressing step by step; every week we have meetings of technical teams.”
For his part, Sergio Massa convened a working group made up of the national government, the opposition, businessmen and workers, to define long-term agreements that allow the transformation of Argentine resources into a value for growth and development.
“After the elections (of November 14) an agreement with the participation of businessmen, workers, government and opposition is required to define the steps to follow in education, science and technology; replacement of social plans by employment plans, and institutional quality, “Massa said in a video recorded for the IAEF Convention.
The head of the Chamber of Deputies made it clear that these “long-term agreements will allow Argentina’s resources to become a value for growth and development.”
In addition, he announced that after the elections they will begin to debate “the draft of the Hydrocarbons Law, not only its legal framework, but also what it means in terms of employment, value chains and generation of foreign exchange.”
If the legislative approval is obtained, this law will have a validity of 20 years, providing tax stability and incentives and differential treatments in tax, tariff and exchange matters, by granting a forecast framework for the sector that allows increasing oil and gas production. natural, together with a growing process of local industrialization and the generation of exports in scale.
Massa announced that the “2022 Budget and a new legal regime for the auto parts and automotive sector” will also be discussed.
Other projects that are part of the legislative approach in the short term are “the tourism promotion law and the renewal by 2022 of the construction promotion regime.”
Regarding the project to promote tourism, Massa highlighted the implication it will have “in the generation of local labor.”
Massa explained that a bill that allows adding value to the agro-industrial sector will also be debated, which “was discussed with 32 sectors.”
The future law to promote Agroindustrial Development implies a boost to industrialization by increasing the value generated at source by incorporating the latest generation technologies. Also the promotion of new investments in the value chain.
For his part, the president of the IAEF, Marcelo Fell, in his brief presentation during the opening of the event, affirmed that the “private sector” has a preponderant role to accompany and commit to the basic consensus that Argentina needs.
Source From: Ambito
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