The Minister of Economy, Luis Caputo, highlighted today that “Argentine society is enduring” the adjustment that the national government is making and “it also tells us that we are on the right path.” Caputo was presented today at the Buenos Aires Stock Exchange in a work day promoted by the Mediterranean-IERAL Foundation.
In the bag, was received as host by the current president of IERAL, Osvaldo Giordanowho was displaced from the position of Executive Director of ANSES after the fall of the Bases Law in January.
The same day that the norm is ready to be approved in Deputies, Caputo accepted the invitation of the person who paid the price for the negative vote from his wife Alejandra Torres.
The minister defended his government management and underlined the attitude that citizens are assuming towards a program that is leaving negative consequences on several fronts.
«Argentine society is holding on, let’s take advantage of it»Caputo pointed out, and used that argument as a basis to ask the businessmen who were listening to him to be encouraged to invest: “If you also trust and invest, this will happen.”
Caputo questioned those who accuse the Government of “not having a plan”
«There is a lot of talk that there was no plan and seeing the result of surplus, accumulation of reserves and inflation gives me the feeling that there was a plan with three fundamental pillars: fiscal, exchange and monetary«remarked the head of the Treasury Palace.
Caputo emphasized that “the semantic issue of whether or not it is a plan does not concern me as long as we achieve the objectives.”
«Surprise is not the result, The surprise is that Argentina finally did its homework and that it has a president with the conviction that everything must be put in order,” said the minister.
In line with what the president points out daily, Caputo stressed that “we cannot compromise the fiscal balance, that anchor is the most important thing we can have.”
In that sense, he maintained that “the basic law does not compromise our decision on fiscal balance in any way. When we developed the plan we anticipated that the law would not pass or would take time to pass, so we took the items that assured us that we would be able to reach balance even without the basic law.
He also joined the president’s assertion about the improvement in salary levels.
«The recovery of salaries is key, it is beginning and will continue for the rest of the year»
About the inflation, Caputo He stressed that the “core (which excludes the impact of seasonal prices) is going to surprise more than one.”
On accumulation of reserves He promised stability in macroeconomic and exchange variables to give confidence and ensure the settlement of currencies.
«While it is true that the heavy harvest is coming, there is an innate speculative factor in both the producer and the cereal company that we do not control. We can guarantee the maximum possible stability to reduce this speculative factor to a minimum. “But I cannot predict something that is not in our control,” said the minister.
Caputo insisted that given the current situation, the conditions for removing the stocks are not yet met: «I am not going to take that risk because there is no certainty that there will not be any hot flashes. “I prefer to go with my feet on the ground.”he stated and sparked applause at the Buenos Aires Stock Exchange.
