Daniel Funes from Rioja lowered the tone of the discussion and in an act with Sergio Massa stated that they do not share the decision but that they will respect it.
The Argentine Industrial Union will grant its workers the two extraordinary bonuses of $30,000 provided by the Government. Despite the discomfort that the measure generated in the business world, the president of the UIA, Daniel Funes de Riojaacknowledged that the manufacturing entity “protest but pay”. He did so at the Industry Day celebration that took place in Entre Ríos and was attended by the Minister of Economy, Sergio Massa. There were crosses due to price controls, the claim for parities and the sector’s orders for after December 10.
The advance of the Government that seeks to preserve the wage earners from the effects of the devaluation quickly found itself with sticks in the wheel. Of own and others. Among the first, a group of pro-government governors and mayors who for now do not express themselves or who openly reject the measure. Among the seconds, different business chambers that rhythmically came out to challenge the bonus under the idea that any recomposition should take place in the joint discussion.
The crossfire was triggered by the absorbable bonus for parity futures of $60,000, about $80 at the CCL, the exchange rate that the CEO of a multinational told Ámbito that he uses to calculate annual profits. According to the Center for Research and Training of the Argentine Republic (CIFRA), for medium and large companies as a whole, the measure will demand some $218,000 million, which “equivalent to 1.2% of income transfers from work to capital in recent years”.
In the Government they have the feeling that the dispute is going elsewhere. They identify a bid for power, in a moment of uncertainty, where everything is under discussion. The always diplomatic Funes de Rioja shared with Massa the day of the industry in Entre Ríos and brought down a change to the confrontation: “Those who watched Titans in the ring think that differences mean confrontations but our vocation is to find the path of the industry”said.
At the same time, he rejected the idea of rebellion that some business leaders have promoted in recent hours: “We do not share the fixed sum, but the UIA respects it because we believe in the order of law”he maintained, although he reaffirmed that “The path for wage discussions is joint agreements.”
Massa and Funes de Rioja are regular interlocutors. It is that the labor lawyer also represents the large food companies grouped in COPAL, which despite the resistance to join Precios Justos, little by little they are parading through the Ministry of Commerce to formalize their adherence to the official plan that intends to put a cap 5% to increases in the most sensitive items for the pocket of consumers.
Prices and salaries are the two variables that the Government monitors just seven weeks before the general elections. Despite the freezing of prices of some items such as transportation and private medicine, the consultants estimate a high transfer of the devaluation to prices and see a monthly inflation of double digits for August or September. The Ministry of Labor calculates that the $30,000 bonus will boost wages of less than $400,000 by up to 10% on average, although at this point no one can guarantee that it will be enough to compensate for the new inflationary jump.
Source: Ambito
