The president participated tonight of the conference of the Argentine Institute of Finance Executives (IAEF) Within the framework of Congress that is carried out year after year. There, he made an exhibition on the demand and supply of moneythe evolution of the inflation, the monetary theory and its application in the Argentine economy.
First, he highlighted the measures promoted by his government compared to what, according to his own Milei, until now was the best national administration in Argentine history, the Menemism. In that sense, it differed from the restrictions imposed in the 90 ‘to control the hyperinflation generated in the presidency of Raúl Alfonsín.
“He Money overhang What we received was twice as Rodrigazo, There was an imbalance in the balance of BCRA worse than in the previous Alfonsin hyperinflation and worse social indicators that in 2001“He said and considered that” truly, not only Toto, but the whole team, we were in an electric chair. “
The stabilization achieved by its economic plan, contrary to what happened during the presidency of Carlos Menem, It was done “Without expropriating and without a bonex plan, respecting property right”. “We don’t shit anyone. Not only that, we don’t set the exchange rate, but we did it with Crawling Peg and recomposing rates,” he said.
Javier Milei highlighted the structural reforms promoted by his government
According to the libertarian president, the current program “has a set of characteristics never seen” in modern history “and yet inflation has dropped faster” than at other times. In addition, he stressed that they launched unprecedented structural reforms. “With the DNU 70 and the Bases Law we made a structural reform eight times larger than that of Menem,” he said.
He also assured that “After a year and a half we fulfilled all campaign promises”. And he did not hesitate to affirm: “We are the best government in history. That is thanks to the giants I have as ministers.” And he dared to advance that, due to the lag of the monetary base containment, in a year the price increase will cease to be a problem: “For the next year there will be no more inflation.”
Then he pointed out that “It was never seen” The conjugation of fiscal balance, amount of fixed money and free exchange rate And he questioned those who say “they already saw her.” “They never saw her,” he said and questioned the economists and journalists who “encouraged the crisis” promoting speeches contrary to reality. “We release the exchange rate and did not go up”remarked about the warnings emanating from some specialists and assured that “What matters is the amount of money.”
In that sense, he also referred to his gaze on the virtues of a good ruler. “Governing is not creating work, it is that people live better. If it were true, the solution would be to create a lot of public employment, what Kirchnerism did “he questioned and highlighted: “Governing is creating well -being, lowering inflation, making the economy grow, which improve real wages and that there are less poor and homeless. Incidentally, we are passing, we The liberals lower poverty in less than a year in 22 pointsthat is, we get 10 million human beings out of poverty. What a heartless liberals, “he said and received the applause from the present public.
Milei said that Argentina entered a growth stage
Then he highlighted Luis Caputo’s work for improving the economic variables, including the fall of the value of the dollar in relation to the peso, but pointed out that “it is not a magician” because “the magicians are linked.” “Toto is a genius, but it’s not Copperfield, it’s a real crack,” he said Milei and explained that the “low” exchange rate because Caputo “is taking pesos out of the street”.
As for the future of the country, he assured that “Argentina has everything to start growing”. “After having made the greatest fiscal adjustment in history, they all predicted a catastrophe and that the GDP was going to fall at least 15%. We talked about the recovery in V and mocked”, but “the truth is that it ended up being a tilde.”
“We did the The greatest fiscal adjustment of humanity In the shortest possible time: five points in the treasure during the first month and add 15 points in six months when we fix the Bcra, We also lower the inflation rate of 54% monthly at 1% ” Milei, And, he said, “respecting property rights and making rates, without hyper” and, with all that, “GDP grew 6%”. In addition, he said that, according to the last unstacted data, he revealed that The Argentine economy “is expanding to 10%.”
Milei reiterated that it will boost the use of unst declared dollars
“When we finish exhausting the Money overhangthe exchange rate will have to go to the band’s floor very fast “, which could generate a problem, since it would be a” faster “adjustment than the speed of each sector to adapt to that change, an effect that “I could send many companies to bankruptcy”.
Given this situation, he warned that “If you go very fast to the band’s floor”the question is “how to monetize the economy without issuing money.” “The real amount of money in the economy is not determined by the Bcra, but the individuals “for which the “endogenous dollarization”but society “does not do it because it is afraid to leave the fingers marked and what ARK Pursue them. “
In that sense, he reiterated that they are working between Arca, the Ministry of Economy and the BCRA “to Flexbylize rules so that no one chasing them for using the dollars they have in the mattress ” The Argentines. It is, he said, a “true monetary revolution of freedom” since “Those who escaped silver are not criminals, but heroes who managed to escape politicians.”
Then he considered that “The Criminal Criminal Law is not lawful” since “you can save on what you sing” since “There is no one to arrive at the right to tell them what they can save or not.” “Returning freedom is also that these people can put their money again within the system without anyone persecuting them. We are working on that,” he reiterated.
On the end, he reiterated that the goal is that “individuals, depending on what they need to demand, monetic the economy.” And he said that “as they need to make more transactions, they will be able to use the dollars of the mattress and there will be more dollars and there will be a time when the dollars are going to do so many about the weights that day, if we feel like it, we will be able to close the BCRA and free ourselves from the politicians here to eternity.”
Source: Ambito
