In the context of economic uncertainty that follows the reduction of the exchange gap and the persistence of the stocks to the dollar in Argentinathe financial analyst Claudio Zuchovicki shared his prospects on the impact of the latest measures implemented by the government of Javier Milei.
Zuchovicki He expressed his optimism regarding economic projections, noting that the country has a growth potential and a margin to increase tax collection. In this regard, he stressed the importance of maintaining a fiscal surplus, a key element for economic stability. He also referred to speculation about a possible devaluation of the weight, discussing his viability and effects.
Is a devaluation coming?
Regarding the question of whether Argentina should devalue its currency, Zuchovicki It was categorical to reject this option, Despite recognizing that prices in the country are high compared to other markets. “Devaluar does not solve the problem,” he said, referring to the negative consequences that he would have for the salary of Argentines and access to credit.
Instead of resorting to a devaluation, the economist He proposed as the main solution to improve competitiveness by reducing internal costs, specifically through the simplification of regulations and the decrease in taxes. His words come from an interview in the radio program You have to know.
Zuchovicki also addressed the local monetary situation, highlighting that, although Argentina does not suffer from a shortage of dollars, The lack of confidence to invest in the country limits the circulation of currencies. “Coral competition or bimonnetarism can bring economic stability,” he explained, defending that this system does not necessarily imply the disappearance of weight as a course currency. However, He warned that to promote trust among investors, the government must maintain long -term consistent policies. “If we continue to change the rules, there will be no long -term investments,” he added.
Regarding the relationship with the International Monetary Fund (IMF), Zuchovicki considered positive the fact that Argentina has managed to register a fiscal surplus, which gives it a stronger position to negotiate with the body. However, he stressed that the country faces challenges with international reserves, a situation inherited by the current government, which may require a renewal of debt maturities before lifting the exchange rate. This measure would contribute to reducing the country risk.
Finally, the analyst referred to the reduction of withholdings to the agricultural sector, one of the most recent measures adopted by the Milei government. Although he acknowledged that the decrease in taxes can be positive, he emphasized that the Argentine countryside depends largely on external factors, such as climatic conditions and international prices.
However, he considered that the fiscal and commercial surplus achieved by the Government is a positive indication, pointing out that a tax reduction path could be followed in the future. “I think Argentina will grow and be raised more, and we are likely to see more tax cuts,” he concluded.
Source: Ambito
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