As for the current economic panorama, Artana said: “I would say that We have had an important advance in macroeconomic matter, but that does not reach. In the end we have had a Inflation rate decreasewhich normally in these processes takes time. ”
“We have had one Recovery in ´V´that in the middle of Un Fiscal Adjustment of five points from GDP It is a rather important achievement, ”he added.
In that sense, he said: “The graduation of this program will be when you have The country risk at a level that allows the State to refinance the maturities of debt accessing the capital market as in the normal countries of the world. ”
Country risk and international context
On the other hand, he referred to the causes of the Country risk rise: “There is a political issue, where there was a fall in the popularity of the president but also a electoral uncertainty That I think is going to unlock after the October election, where more prone parties to support a program like this will be better than the populists who would want all this to return to the air. ”
“At the international level we are much worse than we were in January, with Tariffs in the United States between 10% and 30% and Compensation measures by China. That opens the opportunity to go faster to integrate with blocks that are not the United States, ”he said.
Reservations and exchange rate
Then, he resumed about the government’s economic plan, where he said: “It is a very ambitious program that to some extent is about Avoid a very strong appreciation of the real exchange rate And that is where he clashes with the urgencies of the government in the short term, that I hope that after the election the focus is to try to fulfill this time the goal of accumulating reserves. ”
“It is difficult to see emerging countries that float clean, at least in the region. Peruwhich is a very dollarized economy, has a pair of International reserves Because they try to avoid abrupt jumps in the exchange rate. It is not going against the current, ”he said.
“It’s like have somewhat stored. You have it saved because you don’t know if you have to attend some other emergency tomorrow, ”he warned.
Javier Milei’s government reform
Subsequently, he said that the reforms could have been done differently: “It would have been better to go slower and give time to the private sector that I was accustomed to some rules of the game in which you made money in a prebendaria economy now tell you ‘money makes in an economy that opens very fast where you delay the real exchange rate very strong.’ I would have gone a little more slowly”
“I think that Argentina’s great challenge once we liquidate inflation is long -term growthand that is investment and productivity, ”he said.
“There is General Government Policies that complicate your life. Taxes such as gross income, check tax, withholdings. There is a labor regulation, where the government has pending issues because has made 10% or 20% What you have to do, “said Artana.
“Then there is what we have to do in the private sector, which is Keep going down costs. Growth is tight teeth not relaxed, “he said and sentenced:” As Argentines are survivors of thousands of battles complicated we can do it. ”
Source: Ambito
