The Minister of Economy, Luis Caputo, He defended on Tuesday the reforms promoted by the government of Javier Milei, Among them, the release of the use of “Mattress dollars” to promote the “Reconetization” of the activity, as anticipated Scope. “It is not a laundering, it is the beginning of a new regime,” he said And he questioned that the current model of “excessive regulations did not work.”
During your participation in the summit of Amcham 2025, The Chamber of Business of USA In Argentina, the head of the Palace of Finance said that the Libertarian Administration led by Milei comes “to raise a different model who has had Argentina in a lifetime “to leave behind “A false competitiveness model.”
That plan, according to Caputo, It was sustained from “constant devaluations, real real type, low wages in dollars and protected industries”, so it was not beneficial for the sustainability of the real economy and public accounts. It was a “Model quite murky” which was used by the businessman while “Employees have been worse.”
“We believe that the way to win competitiveness is to lower taxes and deregulate, opening from that side the economy and from the private sector investing,” said the minister and stressed that in a year and a half “we have dropped 19 taxes” for an amount similar to “more than 2 points of GDP.” In that sense, he assured that “People begin to see the result.”
Luis Caputo talked about the use of “dollars of mattress”
“Macro stability is essential to show results. Today people can think about the future,” continued the head of the National Government’s economic team. However, he also referred to the need for Reconetize The economywithout resorting to the issuance of pesos. In that aspect, he spoke of the Liberation from the use of currencies.
“It has nothing to do with a laundering nor will it have amounts. What we are going to do is much deeper. It is the beginning of a new regime,” he said and went on to explain: “In Argentina, the level of informality is so high product of two reasons: for taxes and for excess regulations. Argentina assumes that 99.99% is a criminal and it is not so. We lead this to a level of madness that leads people to escape the formality.”
He said then that “it can’t be that everyone wants to regulate everything and ask us for everything.” “It is not only in banks, real estate, writing, the automotive record, the consortiums. People get fed up,” he continued and told the example of “a person of many resources” who “A few weeks ago he transferred his wife of $ 750,000 and asked for justification.”
For the minister, it is not “guilt” of banks or entities, but “ours, from Arca”, which, he said, “we force the banks to do that” through pre -existing regulations. “There are a lot of regulations that from our side we can unlock to make the Argentine life easier,”he added respect the changes that will come.
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The measure, which according to this medium, It would be announced, if possible, this weekit is intended to make these savings turn to the market. The new regulations would allow you to use the dollars saved without providing excessive justifications on the origin of the funds.
“Nothing has to do with the rules GAFI (International Financial Action Group) nor with the IIF (Financial Information Unit) “, He said and asked “not to confuse the issues”, awakening the applause of the private sector referents that were in the auditorium located in the Convention Center. “Some things will be done as regulation and others will eventually require the approval of a law,” he added.
The Minister of Economy assured that the objective is to “unlock” the current regulation that, in the end, derived in that “we almost doubled the employees in ark, we multiply the regulations and yet informality grew.” “Today a thousand cuits represent 50% of the collection of Argentina and 11,000 cuits more than 70%. It did not work,” he criticized.
The new scheme “It aims to win formality”he said, through the benefit of “Do not go crazy to people” so that “Each regulates what corresponds to him.”
Luis Caputo highlighted economic deregulation and talked about the purchase of reservations
In another passage from the interview he provided at the top of Amcham, The minister said that, through deregulation and tax elimination, the country will grow “Between 6 and 8% and will be able to return them between US $ 420,000 YU $ S550,000 million in six years to be more competitive”causing a new batch of applause from the public.
Finally, he spoke about the accumulation of reserves by the Central Bank (BCRA). “It is one of the goals with the International Monetary Fund, one of the metrics that are put to see how the program is working. If it works, as it is working now, that metric will not be a problem,” he said.
Then he explained that Argentina can “accumulate reservations not only through the BCRA Buying on the band of the band “, that is, the minimum flotation of the current exchange scheme located at $ 1,000, but also “Buying on the capital account, if we recovered access to the markets, that is, financing.”
Source: Ambito
