The challenges of the "inflexible" accountant who will control the Treasury

"Yes, I am inflexible" . The new Minister of Finance, María Paula Allasino, came forward last night with these firm words. "I do not have to be very expensive," says the young accountant (39), virtually unknown outside, but who plays a very important role in government: Director of Budget.

Officials report it in the room as the "owner of the red pencil", the same color that she chose to wear during her official presentation. Almost without understanding, was an "iron lady" in control of government spending and imputations, they all say.

Alfredo Cornejo has the joy of being with you on his profile. Allasino accompanied him from the municipality of Godoy Cruz, where he was the general accountant. He is part of a group of accountants and fanatical economists from the "balanced budget" who grew up in the shadow of Martin Kerchner, the then prime minister of finance.

They write about "Martin's team," reported by MDZ earlier this year, but they point out that she responds to the governor, who is no less fanatical. that Kerchner chickens in control of spending. The border between one and the other is difficult to mark.

For all this, Allasino grew up and is now minister. A kind of natural climb, after the governor had decided – in this case, it was a surprise – that the Minister of Finance today, Lisandro Nieri, became the new minister of the government.

management, Allasino reported last night what was the first mission that gave the governor: improve provincial revenues . According to the scenario painted by the official, the national collection is going well, but instead, the collection of gross income tax (vital for the public accounts) has suffered in recent months.

This is the consequence of the reduction in aliquots that the province agreed with the Nation last year as part of the fiscal compact. Also, of course, a symptom of economic recession.

But no one in Cornejo's cabinet has permission to be intimidated by data from macroeconomics and national factors. Allasino is convinced that he can increase tax revenues . Last night, for example, he was encouraged to predict that the 2018 government fiscal year will end better than in 2017 and with "current surplus", that is, to say more money in the box of the state from which it was spent.

The current surplus is a treasure for Cornejo, which today stands at about one billion pesos but this jewel is threatened by increasing obligations. The payment of the salary trigger clause to state employees, among them.

To top it all off, the possibility of enduring the debt that the legislature has allowed the government in this year's budget is becoming more and more glbady, ​​which complicates the challenges of safeguarding the box and power plan public works.

Allasino must give direct definitions and in this respect said last night: "Today there is no market to go into debt" . In any case, will go to a financial tool to delay the payment of bonds, such as "roll over". The goal will be complex, but the woman in red does not shrink