“The fiscal aspect is the anchor of this Government’s economic and political program,” said the chief economist of FIEL at ExpoEFI. Additionally, he warned about the path to 2025.
The chief economist of the Latin American Economic Research Foundation (FIEL), Daniel Artanaanalyzed the current economic situation, focusing on the fiscal balance to which the Government of Javier Milei, in the first quarter of the year.
He highlighted that it was achieved thanks to a “further adjustment in capital spending -which includes public sector investment- and retirements, than that of the original proposal (on caste)”.
“The fiscal anchor is the anchor of the economic and political program of this Government. How was it achieved? Thanks to the tightening of spending. In the first quarter there was more adjustment in capital spending and retirements, compared to the original proposal”Artana began his analysis within the framework of the ExpoEFIwhich one Ambit is “media partner”, in the panel “The short term. Analysis of the economic program”.
Furthermore, he added that for the rest of the year, in the fiscal balance There will be a greater contribution from subsidies and social programs. “I think that the fiscal numbers are going to be maintained throughout the year, beyond seasonality,” he predicted.
Artana warned about the level of country risk to access external financing
For next year, Artana highlighted that there will be “strong debt maturities: US$15,000 million and in pesos the equivalent of US$24,000 million”. Therefore, it will be necessary to carry the country risk at a lower level to access possible external financing.
“There will be fiscal balance,” he stated flatly. However, he emphasized that “This does not ensure that there is access to the market, since some structural measures are needed” and in that sense, he praised the approval of the Bases law, which is currently being debated in the Senate and has half the approval of the Chamber of Deputies.
At the same time, he reflected on the salary levelwho stressed that “they have become puree”, but currently they are beginning to experience a “slight” recovery, although from very low levels. “We should be going through the worst levels of economic activity, so we are heading towards some recovery,” he concluded.
Source: Ambito
