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Martín Guzmán's definitions of ATPs, the field and price control

2021-02-11T03:25:09.194Z


The Minister of Economy announced that there will be an "update of the rates" and pointed to the management of Mauricio Macri.


02/11/2021 12:12 AM

  • Clarín.com

  • Economy

Updated 02/11/2021 12:23 AM

The Minister of Economy, Martín Guzmán, gave definitions on Wednesday night on the issues that dominate the agenda of the country's economy,

from ATP subsidies to price and exchange policies.

In dialogue with the program

A dos voices

(Todo Noticias), Guzmán first considered that the Argentine economy

"is recovering",

after "the macroeconomic crisis" left by the previous government added to the effects of the pandemic.

The official said that

"the idea is to lower inflation

and that this be consistent with a recovery in the purchasing power of wages."

In December, strictly speaking, wages rose 1.8%, below inflation of 4%.

And they closed last year with an increase of 33%, according to the INDEC measurement.

It is 2.3% below the year-on-year inflation of 36.1%.

In this context, Guzmán said, on the one hand

"there will be an update of the rates"

(he did not give specific values) but within a "transition framework", at the same time that he rejected the possibility of increasing the subsidies to the companies of services.

The minister argued that a higher subsidy of this type would imply a greater monetary issue and, therefore, pressure on the exchange rate, which would destabilize macro variables.

At the same time, when asked about whether there will be a price control, he said that the "careful prices" program already exists and denied that social movements are going to be in charge of controlling: "

The work of price policy takes forward the Government

, the Secretary of Commerce in particular ".

In 2020, the Work and Production Assistance program (ATP) was the key to sustaining private activity amid strict quarantine.

Through the ATP, the State was responsible for the payment of up to 50% of salaries.

Guzmán said that those subsidies had to do with the strict restriction on movement of phase 1 due to the coronavirus pandemic.

He now declared:

"Today we do not go back to phase 1".

Regarding the field, the Minister of Economy said that this sector is "facing a shock that is positive for the economy, which increased the prices of what Argentina produces and sells to the world."

He summarized:

"The important thing is that this shock does not benefit a few."


Finally, the head of the Economy area was very critical of Mauricio Macri's management in different sections of the economy, especially regarding the financial system.

Guzmán, in this context, considered that from Together for Change they opened the game to capitals to "speculate with the financial bicycle" and that later some capitals

"fled" and others were "trapped" in the country

by exchange control applied by Fernández.

Finally, he analyzed, the latter put pressure on the parallel market to access currencies.

DS

Look also

The unions fulfill the role that the Casa Rosada needs, but there are frictions with the employers

Wages lost 2.3% in 2020

Source: clarin

All business articles on 2021-02-11

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