In relation to inflation, he reiterated that the reduction is a “collective task” and that it implies the commitment of all social actors. “Price and income policy play an important role. It is important that the public and private sectors can build price agreements that allow them to have one more anchor for the formation of expectations “
“Reducing inflation is a collective task, where the Government has the most important role, which is that of leadership, always with the objective that there is a recovery of wages in real terms that contributes to improving the performance of the macroeconomic profile. , allowing demand to grow on the path in which we seek to grow, “he added.
Assistance to the Treasury
Amid criticism of the Central Bank’s assistance to the Treasury, the minister justified the policy: “The BCRA had a positive role in assisting the Treasury in order to implement the public policies that today allow Argentina to stand, that it has been possible to protect as much as possible the productive fabric and the social fabric, in a context where there was a lot of anguish and suffering due to the pandemic. “
At the same time, he expressed that it is part of a pattern established between the organization and the Economy: “As of the year 2021, a path has begun to be established in which this assistance from the BCRA is being reduced. And the way that this should continue is by respecting that the State is capable of playing that countercyclical role.“.
In the first week of November, the BCRA reported that it transferred $ 50,000 million to the Treasury in concept of Temporary Advances. In this way, cash aid has accumulated $ 385,000 million since October. With the last tender, it managed to raise the net financing cushion accumulated in the month to $ 149,388 million in order to try to get closer to 70% -30%.
The diagnosis on the economy
Finally, Guzmán was positive with the latest INDEC data and remarked that Argentina consolidated the recovery: “We are experiencing a process of economic recovery that is strong. We estimate that the economy will grow this year more than 9%”.
And he listed: “Investment in Argentina is growing and we estimate that this year it will grow more than 30%. This is good, because it not only means a boost to recovery, but more productive capacity in the future. Employment is growing, it is a central objective and exports are also growing in terms of value and also in volumes. “
“What you see when we compare the photo from the end of 2020 is progress. You see the construction of conditions that allow us to have a better future. With great challenges, which we are facing and working to solve. Today the main obstacle to maintaining the stability is the debt with the IMF that must be refinanced on the basis of terms that allow the Argentine economy to continue recovering. “
Source From: Ambito
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