The Minister of Economy and candidate of Unión por la Patria ruled out applying a devaluation as occurred on the Monday after the PASO, although he noted that on November 15 the crawling peg will be resumed and the price will rise by $3. In addition, he announced what he will do with the stocks in an eventual government.
The Minister of Economy and candidate of Union for the Homeland, Sergio Massa, ruled out that after the runoff with Javier Milei a devaluation is applied as occurred on the Monday after the PASO, although he noted that on November 15 the crawling peg and the price will rise $3. In addition, he announced what he will do with the stocks in an eventual government: “We are going to lift it when the 2024 financial year ends.”
Less than two weeks before the second round with the libertarian, the head of the Treasury delved into his economic plan in case he wins on November 19 and reaches the Casa Rosada. Although he avoided giving names of possible members of his cabinet, he provided details about the need to reduce taxes on exporting companies, advance with the segmentation of subsidies and make the role of the State more efficient.
One of the hottest points of the Argentine economy has to do with the restriction on the purchase of foreign currency, also called “traps”, reimposed by the government of Mauricio Macri and expanded by that of Alberto Fernández due to the lack of dollars. In this regard, Massa assured that it will come to an end by the end of next year.
“We are going to lift the stocks when the 2024 financial year ends and we have a sufficient amount of dollar reserves so that the flow of trade is free and we do not have stress regarding our reserves,” said the UP candidate.
According to the forecasts managed by the Ministry of Economy for next year, a yield in the crops is expected so the income from the benefits generated by the field would be recovered.
In this regard, Massa said that “next year is a year in which exports can be very good” and also stressed that there will be a “low level of debt maturities.” “Next year with the IMF it is only US$5 billion and the debt with bondholders does not represent what it represents in 2025,” he continued.
For this reason, the minister-candidate hopes that, with the recomposition of withholding income and the tax improvement that it would generate in the rest of the sectors linked to agriculture, there would be a recovery of reserves that would allow the stocks to end at the end of the year. 2024.
News in development.-
Source: Ambito
