02/16/2020 - 13:49
- Clarín.com
- Politics
President Alberto Fernández came out to defend the rise in retirement announced on Friday, after the mainstream media, including Clarín, warned that with the new increase the State was saving -adjusting- more than 5,000 million pesos per month . The comparison is with respect to the application of the mobility formula that governs by law - it provided 11.56% increase for all retirees - and that the president himself had warned that it was "unpayable."
The President wrote through his Twitter account and accused the press of spreading "in a biased way the report of the Center for Political Economy Argentina (CEPA) to impose that" false idea of adjustment. "This document explained the cut of the expenditure of 5,100 million per month, which, projected until the end of the year, including Christmas bonuses, would represent a saving of 100,000 million.
"This is an example of how it is misinformed. Some media claim that there has been an adjustment on retirees when in fact that did not happen. They disseminate a report of the CEPA in a biased way to be able to impose that false idea of adjustment. CEPA explains it here . Do not be fooled! " Fernandez tweeted from his account @alferdez .
Why in the government they get angry and went out to defend the announcement if the report itself warns about the cut? Because, as the CEPA document warns and also includes the note in Clarín, if the 45,000 million that the Government distributed in two bonds to the least paid retirees in December and January are taken, the projection of the adjustment is reduced. And even in the short term there is no cut.
Everything will depend on the increases that the Government applies in the coming quarters , on the new mobility formula that it sends to Congress and on whether it has new bonds. The macrismo gave a similar debate, every time it had an extra outside mobility. And Kirchnerism, as an opposition, questioned that bonds were only a palliative.
But specialists warn about some points:
- The bonds are used to compensate for what was lost and now the Government counts them forward.
- But above all, beyond when this particular account is made, the adjustments in the percentages in general are never finished recovering because they accumulate month by month.
- In this case, the global rise implies an increase in spending for March of 8 percentage points, when the formula provided for 11.56% . That difference is hardly settled later and will generate a cataract of judgments. Regarding the current formula, with the new provision those who charge from 6,200 pesos will receive less.
As it happened several times, pension analysts warn about this judicialization , which is nothing more than accumulating a debt with retirees, which then ends up paying a judgment of the Court (such as the Badaro case) and is paid later.