Despite the positive balance that the trade balance showed, fundamentally due to the payment of public and private debt and the payment of foreign services, the Central Bank was unable to increase the level of reserves. Therefore, even in agreement with the International Monetary Fund, access to foreign currency for production will depend on the level of exports. The drought appears as a complication for the Foreign Ministry’s plans that aim to generate some US$100 billion in exports this year, which would open the door to increasing imports.
In the industry, they concede that throughout last year there were no problems importing capital and intermediate goods. “In everything that has an automatic license there are no problems, nor in general with intermediate goods that have a non-automatic license. The problem we have is in the final products”, one of the representatives of the firms that participates in the dialogue for planning told this medium.
Days ago, the Minister of Productive Development, Matías Kulfas, anticipated that by 2022 a sectoral increase of around 5% and 6% is expected for the industry. As explained to Ámbito from that portfolio, to sustain this rate of recovery, a growth of around 12% in imports is needed. With this scenario, the Government looks closely at foreign purchases of goods that are manufactured in the country and recognizes that the situation will be complex at least until March.
As of the second quarter, they point to a greater margin in the trade balance that allows increasing the level of imports and accelerating the performance of the activity. “We have to ensure that every dollar that comes in can be used for production, for the growth of the economy, that is the central axis,” they explain.
From the industry they are cautious, but they wait for a resolution of the negotiations with the International Monetary Fund that clears the financial panorama. Talks to plan annual imports that began a few weeks ago will accelerate in the coming days. Business orders are recurring: predictability and more dollars.
Source From: Ambito
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