The governor of Entre Ríos, Rogelio Frigerio, spoke in Madrid within the framework of the IDB for the Americas where he stated that “the key to achieving sustainable growth and economic and social development, in part, involves doubling investment in infrastructure in our countries.”
Frigerio traveled to Spain as part of a series of meetings to generate new loans and credits for the infrastructure plan in the province of Entre Ríos.
During his presentation, he was consulted regarding his vision of the economic and social development process of the region and the priorities he identified in terms of infrastructure. The president noted that “the region is emerging from a decade that could be classified as the second lost decade after the 80s, due to the drop in product levels and the inability we have to grow sustainably.”
“I am one of those who believe that the key to achieving sustainable growth and economic and social development, in part, involves doubling investment in infrastructure in our countries, especially in relation to the road network, communications, and energy” , he stressed.
Then, he assessed that in Argentina “after many decades, the focus of the macroeconomic problem we have is being attacked, which is the fiscal imbalance, which ends up driving the highest inflation in the region and one of the highest in the world,” but that changed responsibilities between different levels of government.
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This meant, Frigerio said, that “the national government, based on this need to reduce public spending and achieve fiscal balance, now ignores many functions, which pass to subnational governments, especially the provinces.” ; and part of these delegated responsibilities have to do with investment in infrastructure.”
“Today the provinces in Argentina are responsible for education, health, security; and we are also basically responsible for infrastructure,” said the president of Entre Ríos, and regretted that “the weight of the responsibility of “double this investment that today is in the hands of the provinces, either without having discussed the resources to carry out this challenge or these policies.”
Added to this is the fact of not having credit, “because still, at least in my country, we have not recovered the currency nor the credit,” Frigerio added. Consequently, “we have an enormous challenge ahead of us.”
In this framework, Frigerio saw it as positive that the IDB is considering the possibility of working more directly with subnational governments. “I think it is a good idea and provinces like mine, like Entre Ríos, would benefit from this new logic of relations between multilateral organizations in federal countries with subnational governments,” he stressed.
In this regard, the president maintained that “the role of the State today in countries like ours is to promote and develop employment in the private sector. It is the only way we can get out of underdevelopment and get on a sustainable path of economic development.” And social”.
Along these lines, he maintained that to have more private employment and better quality, we must promote better education and health, in addition to having an infrastructure that allows companies to invest and generate employment.
In addition to his participation in the IDB panel, Rogelio Frigerio held a working breakfast at the Novotel in Madrid with almost 60 Spanish and Argentine businessmen who are developing investment projects in Spain.
Frigerio shared the panel with the Minister of Public Works and Communications of Paraguay, Claudia Centirión; the CEO of Isex Spain, Elisa Carbonell; and with Beatriz Caja, global head of the Sacyr Spain group.
