Thursday, January 27

Martín Guzmán: “We see a financial economy that does not reflect the real recovery of Argentina”

Guzman Russians 1

Guzman emphasized the rebound in economic activity. In that sense, highlighted in the first place that the GDP will grow close to 10% this year. “In mid-2021, international organizations estimated that it would take Argentina between and 5 years to recover the fall in the product of 2020, but it has been taking place in a single year,” he deepened.

He also underlined the country’s trade surplus, underpinned by a increase in exports of all items, both in prices and quantities.

Regarding fiscal deficit, the native of the city of La Plata recalled that in the last year the “red” fell due to an increase in collection and fewer debt interest payments as a result of the 2020 restructuring.

He also assured that there was “the profile of the financing of the fiscal policy was improving”, which generates a “strong reduction in financing from the BCRA to the Treasury.”

Guzmán pointed out among the main challenges to solve the problem of inflation and the refinancing of the debt with the IMF. Regarding the latter, he insisted on the need to reach an agreement that allows the country to solve its fundamental problems and at the same time repay this liability.

“We are involved in a negotiation with the international community to have support in order to give continuity to the scheme that we consider will go along the lines of an Argentina with more and more productive dynamism and more and more stability,” he said.

Finally, He remarked that in Argentina there are several sectors that are very attractive to invest in. Among them, he highlighted an internationally competitive sector such as agribusiness, the knowledge economy, the energy sector and the mining sector.

“One of the major infrastructure projects for the next few years is a gas pipeline project to enhance Vaca Muerta’s production capacity and will allow Argentina the ability to export to the rest of the region,” he exemplified.