Jaime Campos critic of unexpected income tax: “It’s a setback”

The Argentine Business Association is celebrating its 20th anniversary and after two years of pandemic it is back to face the debate entitled “The private sector is the key factor for development”. After the rigorous welcome, the president of the institution, Jaime Campos, took the stage. “Argentina must recover monetary legitimacy “, She said. Furthermore, you took advantage of the opportunity to criticize the unexpected Irpef: “It’s a return to the past”. And among other things, He called for clearer rules for investors.

“Argentina has to recover monetary legitimacy,” he said. And he asked for a broad and consensual macroeconomic agreement for them. “Our history teaches us that to keep public deficits permanent was one of the main causes of high inflation rates and our underdevelopment “, pointed out about it.

Furthermore, in this sense, asked for fiscal stability as an essential element to avoid recurring crises. He also asked for respect for the private sphere of businesses and, in this sense, indicated that “State interference in business decisions, such as price control, it does not contribute to relaunching the country’s economy “.

Regarding the tax burden, the president of the EEA said that the institution never tires of emphasizing how high it is and what the formal sector of the economy has to face. His complaint was based on how much “it has grown strongly over the past 20 years”. “There are over 160 taxes in our country and in order to continue to grow, they must begin to decline, starting with the most distorting ones for economic activity “, he warned.

In this sense, he assured that the proposal presented on Monday by President Alberto Fernández and by the Minister of Economy Martín Guzmán on the unexpected income tax “It’s a setback in that sense.”

“In the economic field, the EEA has always maintained that Argentina must have a currency that is respected by the citizens. And a fundamental requirement for this is that the public finances are at least balanced”, he explained at the beginning of his speech.

In another order of things, and towards the end of his speech, he asked for clear rules that give investors predictability. “All the more so when it comes to initiatives that involve a significant investment volume and long lead times,” she said. And she added: “We know that predictability is anchored in the breadth of consensus that underpins economic policies.”

During his day he also addressed a warm greeting to the journalists: “We thank all journalism in our country for their invaluable contribution to democratic life.” “The task of journalists contributes to a more informed citizenship”commented.

In addition, he recalled its first president, Oscar Vicente, and also thanked Luis Pagani, who presided over the institution for seven years and replaced Vicente in his position a few months after his inauguration.

After his words came the recorded message of President Alberto Fernández. The day will continue with two panels that will bring together the country’s leading businessmen in a range representing all sectors of the economy and the closing of Minister Martín Guzmán, the Association of Argentine Affairs celebrates 20 years. The appointment is today Tuesday from 9 in the largest room of the Sheraton.

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