“We are going to do it. We have a lot of hope of being able to lift the trap this year,” he said. President Javier Milei. Likewise, he assured that he is willing to lower taxespromised that the economy will grow around 5% next year and assured that it is every time closer to his dream of closing the Central Bank (BCRA).
In a radio interview, Milei gave some definitions of economics. He spoke about growth and assured that “The recovery of real wages, pensions, plus the recovery of stocks is boosting economic activity.” According to him, in the third quarter of 2024, it grew 3.9% and “that annualized is a speed of 17% annually,” he projected.
On the other hand, he stated that Consumption expands at 20% annually and investment at 50% and that the economic data for December will be above the same month of the previous year. “The economy ended up on top despite having made the largest fiscal adjustment in history,” said the president.
“We already have 15,000 orders (from RIGI) and we still have US$50,000 million pending approval,” he said. In that sense, he anticipated that Argentina could be expanding at a rate similar to 5% next year.
The promise to lower taxes and lift the stocks
Another of the topics he spoke about was the tax burden. Asked if he is going to lower taxes, The president responded: “I have no problem lowering taxes further, let them tell me where to cut.”
He pointed out that he has withholdings in his sights and also looks at the tax on bank debits and credits. “We are thinking about a tax reform. I want all Argentines to get involved with fiscal balance. When they have an expense, they know they have to pay for it,” he assured.
The dollar: a key issue
Regarding the dollar, Milei said that, “the exchange rate from my perspective is not behind“. And he considered Cavallo’s statement “a shame.” “I am surprised, in a bad way, by his judgment, so light and so poorly founded technically, to make a shot of these characteristics. Especially because when he was Minister of Economy when they talked to him about the exchange rate he would go crazy,” he said.
He said that “The analysis that the ‘econochantas’ make of ‘mandrilandia’ is wrong.” And he considered that what the majority uses is “an indicator called the real exchange rate that computes how the nominal exchange rate, international and local inflation move.” He explained that “the point is where they make the cut.” “What a coincidence that they made the cut in 2002, just when Convertibility was exited, when there was a very high overshooting,” Milei said.
Thus, he considered that This is a biased sample.. “You are looking at a situation of extreme distrust, you are biasing the sample. Why don’t you take the one from January since ’91? Because it gives me much less value,” he explained. He said that Convertibility fell because it did not have fiscal balance, something that exists today and that, “If we had a problem, the parallel would be a lack of control.” Finally, he pointed out that, to get out of the trap, it is necessary to ensure that inflation has disappeared, among other key elements.
Source: Ambito
