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Argentina announces orthodox economic measures to calm markets

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The new Minister of Economy of Argentina, Silvina Batakis, announced a series of measures that aim to reduce the high fiscal deficit and calm the financial markets, in the midst of the financial and political crisis that the country is going through.

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Batakis, who assumed the economic portfolio a week ago in the midst of a serious dispute in the ruling center-left coalition, said that he will maintain goals agreed with the International Monetary Fund (IMF), among other decisions that seek to clear up doubts about the future of the economy.

We will not spend more than we have”, affirmed the official in a press conference. “We need to give some order and balance to the public finances of the national state”, he added.

Batakis pointed out that Argentina will seek a path of positive interest rates, will freeze the entry of new employees to the public sector, will maintain the plan to cut subsidies for the consumption of services stipulated by the previous administration and will avoid expenses above the cash projection. real.

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The minister considered that the Argentine peso, currently under pressure due to the country’s shortage of foreign exchange, is at an adequate value.

Some experts cast doubt on the support that the Batakis plan will have from Vice President Cristina Fernández de Kirchner, who plunged the government of President Alberto Fernández into a crisis by pressing him to promote the departure of former Economy Minister Martín Guzmán.

Kirchner, who represents the most radical sector of the ruling Frente de Todos alliance and is considered one of the most powerful politicians in the country, criticized Guzmán for his liberal decisions that, however, seemed less orthodox than Batakis’ announcements.

Source: Gestion

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