Massa announced that he will meet with the other ministers to set "investment priorities" Y "spending ceilings"

Three days after having landed in the cabinet of Alberto Fernández, the new Minister of Economy, Sergio Massa, announced today that next Tuesday he will hold a meeting with those responsible for the administration of ministries so that “they know the investment priorities and the ceilings expense”.

“48 hours ago we began our task with responsibility and commitment at the head of the Ministry of Economy,” Massa published on his Twitter account, where he took the opportunity to give details about the next measures that will be carried out.

In this framework, the national official continued: “I want to make a report of these first 48 hours with the idea that, beyond any third-party speculation, they know what we are doing and how we are advancing.”

“We have summoned for Tuesday all those responsible for the administration of ministries to give them the programming until the end of the year, so that they know the investment priorities and the spending ceilings,” the Tigrens anticipated.

In this sense, the former president of the Chamber of Deputies stressed that “there will be no more issuance until the end of the year”, so that next Monday they will begin “reimbursements to the Central Bank”.

“We began, in coordination with all sectors of the public administration, setting limits on the entry of personnel, and as of September 1, each affidavit must be published with public access on the Indec page,” he continued.

Regarding the segmentation of energy rates, he pointed out: “Consumption ceilings are added to the segmentation to promote resource savings and a more progressive system of subsidies. Those who consume less or less income have less pay, those who consume more or have more income, more pay”.

“The segmentation and the subsidy cap will have a federal criterion with climate understanding. The entry into force will be by sector and zone, and will be informed on Thursday by the Energy Secretariat,” he added.

The brand-new Minister of Economy, who once again used the networks in search of giving signs of political and economic predictability, affirmed that by ordering the subsidy distribution system “the State will save 500 billion pesos a year.”

In addition, he indicated that he submitted to the head of state the decree to promote hydrocarbon exports and considered “the increase in our exports in this sector to be key in a world that is experiencing a fierce energy crisis.”

It also reported that the AFIP and Customs notified “722 companies” for “mechanisms of abuse with underinvoicing of exports and overinvoicing of imports”, for which “the damage to the State is almost 1,000 million dollars.”

Regarding new credits, Massa explained: “On Tuesday, August 16, we launched the Credit Program for the first export, so that our SMEs sell Argentine work to the world. There are 240 billion promotional Credit Rate to promote new exporting companies”.

“A coordination scheme is already in place to guarantee that import dollars are focused on production and health. The following participate: the Secretary of Commerce, the Central Bank, Customs and the Secretary of Industry,” he added.

Likewise, he pointed out the priority that productive sectors will have for the request and release of foreign currency: “On Thursday, the Central Bank approved the system of special accounts for the entry of advances. The fishing sector already announced yesterday (Friday) its program and in the next few days we will inform the amounts of other value chains”.

Regarding the ministerial agenda, he anticipated that the contract with CAF will be signed on August 19 and indicated that he had a working conversation with the President of the IDB regarding the Disbursement Program and the coordinated work between Argentina and this organization. “The first meeting was followed by a second meeting of technical teams to work on the Argentine objectives for the years 2022 and 2023,” said the minister.

In his post, he reported that last Thursday and Friday he met with the head of Anses, Fernanda Raverta, to review “the economic scenarios” and next Wednesday at 5:00 p.m. they will announce “the measure that, in addition to the normal index, includes an accompaniment additional” to retirees. “We are going to support this accompaniment in a greater collection by advance of Earnings decided by AFIP, so that this income from sectors with greater payment capacity, we turn it into one of the sectors that suffers the most without affecting the order of our accounts. “, he explained.

In a new defense of the policies that will seek to reduce public spending, he maintained: “We must all understand the importance of sitting down to seek agreements. Without macroeconomic stability there is no social peace and without social peace there is no macroeconomic stability.”

“In the week that begins, the Ministry of Health of the Nation will present how the audits and training programs for return to employment will work. Then, we will inform the instruments for vulnerable sectors, the formalization of the social economy and the Bridge program to employment,” he said.

And he concluded: “Yesterday we met with banks and institutional investors, because we want to work together with them and order the maturity curve. So that we can have a better order of finances and the Treasury.” (NA)

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