The Secretary of Industry and Productive Development of the Nation, Jose Ignacio de MendigurenI confirm that “inflation doesn’t come down in two days” and said that from the Ministry of Economy, led by Sergio Massa, they are “making an enormous effort” to contain the rise in prices.
“The truth is that we are making a huge effort to contain it, we know it This doesn’t download in two days, it’s complex”argued De Mendiguren a few days after it became known that inflation in February had reached 6.6%.
In this context, the former head of the Argentine Industrial Union (UIA) said that Argentina has “structural” inflation, but “unfortunately, this does not remove the responsibility that falls on the government, the developed world is resorting to one of the highest inflationary crises of World War II to date”.
“In our case it is also made worse by how we entered this world crisis. The world entered with virtually no inflation and we entered with a country with 54% [de inflación], defaulted on pesos and dollars. That makes it a lot more difficult.”
Furthermore, the national official defended the measures put in place by the Government during the coronavirus pandemic: “During the crisis, what was done, I think was the right thing, was to help the entire productive apparatus so that production did not decrease and the companies”.
“We succeeded in 2020. So despite all these serious problems, the economy continued to grow, registered employment had good rates, but the problem is that Inflation means that those who work do not have enough money and this is our challenge“, acknowledged the Secretary of Industry and Productive Development.
In this line, De Mendiguren admitted that “inflation has downward resistance“, but highlighted the position of the head of the Palacio de Hacienda in the face of the conflict: “What the minister has done is to redouble his efforts so that this path is downwards and not as many have predicted that this will result in hyperinflation”.
“We’ll keep working, we know it’s difficult, but the fight is there not to give up“, stressed the official in dialogue with LA990.
Finally he assured that “the real solution to inflation is macro stability and this requires economic growth, which today occurs through exports because the Argentina’s eternal crisis is the lack of dollars“.
“We are doing everything possible, for example we have announced grants to favor exporting SMEs, with good results, the sector exported 12 billion dollars in 2022 and now we are strengthening that path once again. We are attacking the structural problem, the lack of dollars“, he concluded.
Source: Clarin
