The Plan Fénix open chair, made up of economists and researchers from the UBA and which was born in the dramatic crisis of 2001, reappeared with a harsh document about the Large Investment Incentive Regime (RIGI) that is contemplated in the Bases law with half sanction in Deputies and that the senators are debating these days.
The document states that due to its “insufficient investment rate and the external restriction, it has been difficult for Argentina to maintain economic growth without generating a deficit in its foreign trade, given its dependence on imports of inputs and its high external debt. “Between 2012 and 2023 GDP growth has been virtually zero.”
He maintains that incentives for investment must be designed but that They must be adapted to the risk assumed and, in addition, they must ensure that the activities covered by a possible promotion regime allow both contribute to the strengthening of external accounts and benefit the entire productive network.
“Investment and subsequent productive activity must then not only generate employment, but also promote other productive sectors, both through the demand for national inputs (“backward” productive linkages) and by providing raw materials to be used and transformed within the country (“forward” productive linkages). Another way in which the new investment will be able to boost the economy is through the greater salary and tax revenues it generates, to be spent and reinvested within the country. No less important will be the contribution to the balance of payments, by providing the economy as a whole with additional foreign currency, necessary to import inputs and capital goods and sustain growth,” the document maintains.
And he concludes: “if these conditions are not met, They will constitute mere enclaves, with little or no connection with the rest of the economy.
Here is the analysis of the different components of the RIGI that they carried out:
