There is a part of unattainable Milei even for those who put together the strategy policy. The day before yesterday, hours after the failure of a clean file, the recommendation of Santiago Caputo to the President was still not answering Silvia Lospenno, who has since accused him of having agreed with Kirchnerism to turn the law. The advisor believes that attacking her or even appointing her when so little is missing for the Buenos Aires election only gives the entity to the PRO candidate. But it was impossible: the libertarian leader was going to there. “I deeply disappointed that of the pennate lying openly,” he said, and attributed everything to a pro operation.
“There are things that are out of our control,” they explain in the campaign team. Milei is Milei in all areas. For the Buenos Aires fight the idea of the government continues to bring the discussion to the national level: “Kirchnerism or freedom.” They have decided to dispute votes directly to the PJ and, therefore, they intend to talk about pro only just and what is necessary. The adversary of Adorni will not then be Lospennato but Leandro Santoro, whom in the libertarian team they see from the beginning of the campaign leading the surveys but, they add, also stagnant on a roof. They say that they are still about four points of the former Radical and that, therefore, everything they manage to subtract in that hand in hand in the communes will be double.
But With Milei sends spontaneity. And every strategy is assembled In any case, in the leader of the leader’s personality, on which he is later tested: what adds and should be exploited or increase, and what remains and corresponds to avoid. The president actually brings that asset of previous campaigns; The only novelty is that it has also helped him to govern, something that was not so clear before his arrival to power. It was that same brutal style that allowed him, for example, to achieve with a minority in both chambers an uncommon fiscal surplus in history and in which almost no one of the establishment believed. They say that when Luis Caputo, still in El Llano and weeks before the first round of 2023, went to show Milei the 5 -point setting program that he had devised in the Anker consultant, he sent him to talk to Arriazu. And that even Arriazu hesitated: it seemed difficult to put into practice. But it was ultimately the plan that ended up applying Milei and that values the market.
He Another distinctive feature of the presidential imprint is that it has spread To officials who were not like that. “Toto Caputo does not seem toto,” say those who know the minister since the time of Pro. Sometimes entrepreneurs do not know how to address it. On Wednesday, for example, the head of the Palace of Finance had planned to speak at a lunch before the Inter -American Council of Commerce and Production (CICYP) at Alvear Icon, a visit that had confirmed two months in advance. But he changed his mind when he received that morning the speech with which Marcos Pereda, president of the CICYP and reference of the rural one, would welcome him: the message included claims about export withholdings. Caputo then reacted and, annoying, decided not to go. His argument, which he later told in intimacy, was that he considers that the most distortive tax are not withholdings but gross income and that Pereda’s words would force him to dedicate half of the time to answer. “I have nothing to win, I have a lot of work,” they say that the minister said, and he warned that he was not going. After a while he received a call from Pereda, who tried to negotiate. But there was no case: the Cyp had to invite another time of the cabinet, Federico Sturzenegger, who took another lunch with economists to be a few minutes in the alvear and retire without eating. Sturzenegger listened about the withholdings of better humor, but left the government’s message anyway: “All taxes are distortive. Do not ask me to lower taxes, ask me to lower the expense: when an administration spends little, you can return it on taxes. We need you to be members of the chainsier.”
For entrepreneurs It is a completely new logic. They were used to interacting otherwise with governments, in general, breaking in person with each official and on sectoral interests on which profitability often depended. And now they are not always accessible. Much less the president. Paolo Rocca, for example, has not yet sat down hand in hand and carefully with Milei. That is why sometimes in the corporations disorientation. How to move? What should be, for example, the new Cyp profile, which will renew authorities in a few weeks? Days ago, at a lunch at the River stadium, a group approached Eduardo Eurnekian and advised him to directly assume the presidency of that camera. He had not left that day: were Jorge Brito, host and club president, and sectoral referents such as Gustavo Weiss (construction), Adelmo Gabbi (trade stock market) and the laboristista Funes de Rioja. Is it enough to put the one who knows the president most because it was his employer? Or would the alternative of others, Betina Bulgheroni, better, in a good relationship with Karina Milei?
Everything does not seem so clear or so spontaneous. Because in addition, if the Government really ends up defeating inflation, the problems will be very different: the margins will be shrink and costs, taxes, salaries, infrastructure will have to be discussed. A competitiveness that, with a strong weight, will not be resolved by raising prices. Alfredo Coto, the protagonist of meetings in which the Minister of Economy ultimately urges supermarkets not to validate the remarks of manufacturers. The last one was Tuesday. They are meetings in which nothing is left over, much less stock, and whose efficiency will be tested again next week, when it is clear if the sector is in a position to meet the resistance that the government asks for: neither an increase or the merchandise is taken to its factories.
All of that is to be seen, because Some suppliers feel they already made an effort maintaining prices in April after the departure of the CEPO and expect May to be different. “There is no macroeconomic reason to do so,” Caputo instructed on Tuesday. But the negotiations you don’t see have been tense. Phrases similar to an ultimatum are heard. “We arrive here.” “We endure where we could.” And so.
Caputo has already exhibited several companies on Twitter. “It seems good to me to do it”they said in a chain, where they assume that the change of mentality towards competing by volume, not by price, will take years. What leads the minister to try to hurry him by artisanal, when an orthodox is supposed to know perfectly that the surplus of money lowering the result will come alone? Actually, surely its model is deflationary and that it will not make concessions with the broadcast, and until they can initiate background reforms that make Argentina viable, their fear resides rather that these increases are not validated by demand and cool consumption.
I would be A high cost. The government has begun to raise more or less subtle. Milei said the day before yesterday at Latam Forum economic. “While there are still money overhang [excedente monetario] Remnant, we will not have a monetary strangulation problem. But at some point the money overhang It is going to end, the exchange rate will go to the band’s floor and, to the rhythm in which we can monetize, and we do not know if we are going to do it well, it may not be quick enough and generate a high interest rate and end up slowing down the level of economic activity. And be a ballast for growth because it requires deflation. “Someone was surprised.” What a barbarian that raises it so openly, “he said when he heard it.
For now, still far from the October elections, which could change The configuration in Congress, the government bets on a palliative that hopes to announce next week: the use of dollars that savers have in the mattress. The great metaphor of distrust in the country. “That the economy is monetic by Argentines themselves,” said Milei, that part of the idea that decades of scams led savers to cover inflation by going to the caves. The president believes that this passage from white to black was forced and that is why he should not be penalized. Its proposal aims to reformulate UNE regulations, ARCA and the Central Bank and have no exchange objectives: only fogize the activity.
But they are modifications that do not make the true transformation, which will come The day when a new congress allows, for example, to start with a sequence of measures: a labor reform that makes collective agreements that today lead many entrepreneurs to work in black to survive. The real country. Sturzenegger said it in CICYP: “A company that is informal is a company that cannot grow.” It will be the great discussion of 2026. Until now, all inefficiencies were hiding with inflation. If, as the market projects, another model is really started, you will have to work better. That Argentina is still under the mattress.
