The chief economist of the FIEL Foundation expressed his concern about the economic policy of the Government of Javier Milei.
“There are no signs of recovery” of the Argentine economy, warned the chief economist of the Latin American Economic Research Foundation (FIEL), Daniel Artana. He also warned about the drop of the investment and the consumption and the “political noise” caused by the Government in recent weeks.
Although we must wait for the official indicators for May and June for a more precise diagnosis, the head of FIEL was distant from the optimism of President Javier Milei. “The fall of the check tax and that of internal VAT allow us to anticipate then that activity still does not rebound“Artana said in statements to the Infobae portal.
He increase in the exchange gap between the official dollar and the quotes generated noise for the future of inflation. “This obviously doesn’t help and furthermore you need to solve it soonbecause At some point next year you have to place some debt on the international market to renew a part of the capital that maturessince in 2025 there are maturities for USD 17,000 million,” explained Artana.
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The debt, then, appears in the medium term as a concern for Artana. “Of that amount, in foreign currency, multilateral organizations will be able to finance you 5,000 million or 6,000 million, so There is still a hole that is difficult to cover with fiscal surplus. We are talking about two points of GDP. With a lower level of country risk it would be simpler, but for now it is complicated“he added.
In particular, the head of FIEL warned about the effects on the economy that the crisis of the last days in the Government libertarian. “In recent weeks several events have coincided: The Government was weakened by the food issue, lost the banner of the fight against corruption and showed little gymnastics to manage“Artana warned.
Government assures that Milei “avoided the explosion of the markets” by promising to “veto everything”
The Undersecretary of Press of the Presidency, Javier Lanarireferred this Saturday on his X account (formerly Twitter) to the sayings of Javier Mileiwho promised to ”veto everything” that could endanger the fiscal balance that the Government seeks.
Thus, Lanari wrote: ”That the President says that he is going to veto everything that puts the fiscal balance at risk is what prevented the explosion of the markets this week.”
”It’s easy to say. The difference now is that The facts and numbers support it.…”, the journalist closed.
Source: Ambito
