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The Minister of Finance, Nicolás Dujovne, stressed today that Argentina is ready to grow up " I hardly knowclear political uncertainty " typical of the election years.
The official led this morning the meeting of finance ministers and central bankers of the Mercosur countries, at the summit that heads of state of the city of Santa Fe are closing today.
At the end of this meeting, at a press conference, Dujovne stressed his confidence that inflation would remain down in July, after the 2.7% recorded in the sixth month of the year, published yesterday by the Indec.
So the minister coincided with the president of the Central Bank, Guido Sandleris, who said yesterday expect this month's CPI to be "minor" last June, so far the lowest rate of increase recorded so far this year.
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"Argentina has a monetary and fiscal program; BCRA started with monetary aggregates, a very hard but necessary policy to revive the needs. Iinflation was down, the process was not linear because we had a regrowth in March and April compared to what we saw before but continued to fall and this has to do with fiscal and monetary discipline, because the BCRA no longer finances the treasury and the monetary base does not grow, which has set expectations, "said the manager.
Y He remarked "that it is encouraging that underlying inflation is decreasing, not on the basis of transient factors, but on a solid process. We expect that in July, the level of inflation will be low. "However, Dujovne reinforced that "we recognize that we have very high levels and that we must aspire to lower levels. "
Consulted on yes after the last revision of the International Monetary Fund (IMF) and the staff report released Monday that reduces the growth forecast of the Argentine economy 2020 up to 1.1%, the government will review your estimates, Dujovne was frank:
"Regarding growth forecastsor, they are based on our badessment of what will happen with Argentina Once political uncertainty dissipates, once President Mauricio Macri reelected and continue the process of change, "said the manager.
And he added that "2020 will be a very good year for Argentines in terms of growth, low inflation and employment".
In this sense, he envisaged possible that the IMF has "badessed the different policy alternatives" facing the replacement presidencyl. You can badess that in the event that another political force governs Argentina, macroeconomics could be much worse. We do not know, it's a hypothesis of why they can have such a low growth rate, "Dujovne said.
For his part, the minister rejected the advice of his Brazilian counterpart, Paulo Guedes, who, in an exclusive interview with El Cronista, had suggested returning to the AFJP system. "It is not planned to return to the pension capitalization system," Dujovne said.
With regard to the problems that he dealt with his peers and central bankers At one of the last meetings preceding the closing of the Santa Fe summit, the official said the commercial program had been revised after the agreement reached with the European Union and the negotiated agreements. FTA with Canada, South Korea and EFTA: "We think we can go as fast as possible".
"We define a work agenda that goes beyond the commercial "; Dujovne celebrated, having indicated that all the countries of the bloc "we recognize that the common external tariff (AEC) is too high "he says
On the "real weight", the minister said that with his peers from the regional bloc, they had decided "Do a job to badyze the potential benefits of a common currencyIf the Mercosur is an optimal zone and it is possible to have a common currency, and What should be the long-term project?
"We must start a very thorough study, to see what macroeconomic conditions we should meet before doing a project that we think is very interesting, "he added.
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