Guzmán excluded the rapid decline in inflation and insisted on strengthening the unexpected income tax

When will inflation come down? What about taxes? And the exchange rate gap? Those are some of the questions Martín Guzmán faced this morning for an hour and a half in an hermetic room at the Llao Llao hotel. There, nearly a hundred businessmen met, as they do once a year, from 10:30 a.m., after breakfast in front of Lake Nahuel Huapi.

In his presentation, the Minister of Economy showed graphs and glanced at a “new stage” by increasing the price of food and energy as a result of the war. He described it as “an opportunity to accelerate investment“, featured the closing of negotiations with the IMF and called for” strengthen the brand of Argentina “abroad, that is, to further support the administration of Alberto Fernández.

His introduction ended minutes after 11 and closed with applause. Then it started raining like missiles worries relating to entrepreneurs. “We fixed the debt, that’s good, but we didn’t lower the risk of the country”, they lifted him from one of the chairs. Guzmán replied that “even if it doesn’t go down completely, it’s on that path “ and acknowledged that “the situation is difficult”.

While Patagonian lamb is being roasted in one of the hotel’s wings, the owners of major companies are worried about inflation and they suggested to the guest that “it should be lowered strongly within two years”. Guzmán did not back down. He told them that “You have to do it in a consistent program”as signed in March at the IMF.

But he also taught the management of Mauricio Macri. “That has happened and it’s not like that, the simplistic recipe of rapidly lowering inflation will cause more instability and harm the country, “ revoked. Macri had lunch on Thursday with the heads of the country’s major companies and spared no blame on businessmen for supporting his measures publicly, without the same impetus in the private sector.

Many of the questions, however, point to the project unexpected income taxa measure launched by the minister on the eve of the spread of inflation in March -the highest in 20 years- and in the midst of the Kirchnerist offensive to eliminate him. The head of the Palacio de Hacienda not only ratified the initiative but also doubled the stakes in the face of requests to reduce taxes: “The balance of tax cuts has not been good.”

(Developing)