In what is a message on several fronts, Sergio Massa has moved his bishop Gabriel Rubinstein to assure the IMF technicians that tomorrow they will return to Washington that the deficit target will be met.
The statements of the deputy minister who highlighted “the lowering of the fiscal deficit” and reiterated the target of 1.9% for 2023it also aims to lower the pressure of the Frente de Todos in the election year.
“Government complies with the permanent reduction of the fiscal deficit one of the main macroeconomic goals set by Economy Minister Sergio Massa when he took office,” said Rubinstein.
In Economy they face a difficult week when the January inflation which, according to all estimates, will exceed 5.1% in December. Close to Massa’s office they anticipate that a number of measures in the next 45 days aimed at the fiscal front in view of the absorption of the pesos in the perspective of being able to go to the dollar or validate further price increases.
In a column on Infobae, Rubinstein once again defended the policies implemented by the economy ministry, after criticism from the opposition over the debt in pesos.
And he stressed that the measures taken by the head of the Palacio de Haciendo have managed to bring the deficit to “2.5% of GDP”. He added: “We reaffirm the goal of reaching a 1.9% deficit by 2023.”
He also referred to peso debt management, a point on which he received sharp criticism last week from the opposition.
And he explained that private debt in bonds and treasury bills in pesos will end in 2023 about 8% of GDP, and if we add long-term private debt (Discount, PAR and Quasi Par), to 12% of GDP. “Maintaining the debt/GDP ratio at 12% implies a fiscal effort of the order of 0.2% of GDP which, in our opinion, it is very sustainable“, he has declared.
As for deadlines, he said the Economy is “shrinking the towers and lengthening them over time”. “We have the necessary tools to avoid any default scenario and we hope that the talk of default will fade in the coming months, which would facilitate not only our actions, but more importantly those of future governments,” he added. .
The deputy minister maintained: “We are working to improve as much as possible and in the shortest possible time”, he concluded.
Source: Clarin
