Carlos Melconian made its appearance after the recent announcements of Javier Mileand around the financial surplus. The economist drew attention to the devaluation ordered by the Government in December, which in his opinion had the effect a “self-generated” inflation.
“The dollar at $800 went to hell,” the economist argued while speaking with journalist Ernesto Tenembaum on Radio con vos.
Melconian was consulted about the figures recently released by the head of state on national television. Specifically, Tenembaum asked his interlocutor if the financial surplus held by the president is “genuine” or “drawn.”
“To be fair and balanced, and not get into the club of firecrackers, I say: ‘Look, the dollar at $800 was a waste. You could have started with a lower number,” Melconian shot in radio statements.
According to the economist, inflation fell but “you still have a quilombo” linked to other variables, such as relative prices and wages.
Carlos Melconian and the warnings to the Government
“With the dollar at $800, what was achieved was to self-generate higher inflation. Of course, in the Government’s narrative this is erased. They say that a hyper of 15,000% was coming,” said the former head of Banco Nación.
“You created a cushion that, if it didn’t go away, It is on its way to incubating a problem. All the Exchange arrears do not mean that Monday will burst, but all of them in Argentine history end up being corrected, sooner or later”, reasoned the economist.
Financial surplus: what Carlos Melconian said about the Government’s announcement
Returning to the president’s announcements about the financial surplus, Melconian broke down in detail the drop in spending that the Government launched and explained the process with the metaphors of a chainsaw, bicycle and blender.
“A quarter of the drop in spending was a chainsaw, because if you clean the provinces because you send them zero and you send zero to public works, it is a chainsaw. Another quarter was the bicycle, because energy producers were not paid here. And I am being generous, because that debt could be larger, but part of it is from 2023 and that is the inheritance of (Sergio) Massa,” explained the former Cambiemos government official.
“The remaining 50% was the liquefaction, especially retirement and some other social spending,” Melconian said.
Source: Ambito
