The new economy minister Argentina, Silvina Batakisratified on Monday the economic course outlined by President Alberto Fernández, including the goal of achieving fiscal balance and ensuring the country’s economic growth.
“We are convinced that Argentina’s course has to do with the fiscal management of our accounts, with continuing with the economic program that the president has been setting,” Batakis said in a brief appearance before the press after taking the oath of office.
Batakis, an economist with a heterodox profile, replaces Martín Guzmán, who resigned last saturday in the midst of a growing confrontation between the Argentine president, Alberto Fernandezand the vice president of the country, Cristina Fernandez.
The new minister assured that she will work to create more jobs, so that Argentina has more exports and to “revalue” the Argentine peso.
“That is achieved through getting more reserves,” he said.
He stressed that it will give continuity to the Government’s economic program, whose lines and goals were reflected in the refinancing agreement sealed last March by the Executive of Alberto Fernández and the International Monetary Fund (IMF), an agreement questioned by Kirchnerist sectors that respond to Cristina Fernandez.
“We are going to continue with the economic program. I believe in fiscal balance and I believe that we have to advance in that direction,” Batakis assured.
Among the people he thanked after taking the oath was the vice president, who since last year had been reiterating open criticism of Guzmán’s management, in particular the progressive fiscal adjustment undertaken by the now former minister.
economic program
As agreed with the IMF, the South American country must reduce this year its primary fiscal deficit to 2.5% of gross domestic product (GDP) -from 3% in 2021- and monetary assistance from the Central Bank to the Treasury to 1% of GDP -from 3.7% in 2021-.
In addition, it must add 5,800 million dollars to the reserves of the Central Bank, in a scenario of shortage of foreign currency.
The Argentine economy managed to grow 10.4% last year after three years of severe recession, but this year activity has lost vigor, while high inflation, one of the country’s main macroeconomic problems, has accelerated.
(EFE)