The new deputy minister of Luis Caputo, José Luis Daza, highlighted the current economic management and expressed confidence in the direction of the Government, although he acknowledged that there are still major challenges ahead.
Jose Luis Dazawho has just taken over as Vice Minister of Economy, predicted this Thursday that Argentina will be the country “with the greatest economic success in the next 30 years” and promised: “I don’t know exactly when, but Let’s kill inflation”. He did so within the framework of the annual meeting of the Inter-American Federation of Stock Exchanges (FIAB), where he made his first public appearance since joining the portfolio that he heads. his former colleague at JP Morgan, Luis Caputo.
The brand new official He was appointed this Wednesday and will have the main mission of giving a macro vision to economic management. During his brief speech, he stressed that what is being done in the first months of this Government, “is an epic feat that unique in the world”. Daza said that throughout his career he had to study successes and failures in different countries and, based on those analyses, he came to that conclusion.
“We are going to kill inflation, I don’t know exactly when. “Let’s look at the direction and go there. The reforms, tax cuts, elimination of regulations will lead to an increase in the capital stock of this economy,” said the economist who was naturalized in Chile, although he was born in Argentina.
Daza was confident, but with some uncertainties
Daza said that he left his job and his family and came to Argentina to participate in what he called “the most important economic transformation of the next 30 years.” In that sense, he highlighted the conviction and audacity to say what he is going to do. Javier Milei and stated: “When I look at the direction of public policies in the world as a whole, there is one country that stands out, and that implements policies that have elements of stabilization and structural reforms. I think there is no no country in the world that in the next 30 years it will be more successful than Argentina.”
Nevertheless, He acknowledged that “the challenges are many” and that he has “a lot to learn”He even said that he spoke with authorities from different countries around the world and “they are shocked by what the economic team managed to do.” “They thought it would not be successful without falling into hyperinflation,” he said. But he maintained that, thanks to a well-conceived plan, many improvements were achieved.
But, looking ahead, he noted that while maintaining fiscal and monetary policy will lead to a very sharp drop in inflation and will normalize it, the economic system is very complex and has random elements. “It is very common that in processes like the current one we see all the trees but not the forest,” he warned and acknowledged that “economists We are very bad at predicting.
Daza is 66 years old and graduated as an economist at the University of Chile and as a doctor in Economics from the Georgetown University, Washington. He was the representative of the Chilean central bank in Asia, based in Tokyo.
Source: Ambito
