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“It seems “We have hit rock bottom and there will be no dizzying recovery.” The president of the Argentine Industrial Union (UIA) said: Daniel Funes from Rioja.
“It’s clear that Argentina has gone through decades of ups and downs and expansion of public spending. This stability obviously creates problems.”The businessman added in an interview with CNN Radio.
The latest survey released by the entity shows that LiftIndustrial activity fell 19.5% Compared with last year Compared with May, it increased by 5.7% (excluding seasonal factors). In the first quarter, it decreased by 14.1% year-on-year.
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The UIA president described “this Anti-inflation policies are paying off On the one hand, it leads to a contraction of the internal market.”
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“In principle, we seem to have hit the bottom and there won’t be a dizzying recovery, but it is certain that Those sectors that were very depressed are starting to react.”he commented.
Funes de Rioja said other sectors such as energy, mining and petrochemicals “have not felt the contraction and at the beginning of the year we could say that They had and still have a very optimistic future. “The huge investment that will be made in Punta Colorada confirms this.”
In addition, Funes de Rioja believes “We have to see what happens with public works. All of these things are intertwined, and we are watching this through investigations within the industry.”
“As we sponsor a lot of investment, We need to clarify policies for small and medium-sized enterprises. If we add micro-SMEs, small and medium-sized enterprises, we are talking about 10% of Argentine companies. 90% is very important, but everything must work. ”The head of the UIA added.
Dollar and stocks
The UIA president said: “We hope Monetary system and competitive exchange rates, It has to be addressed somewhere. We have very high tax pressures, with 50% tax on a lot of products. “It has to be addressed somewhere, but when it’s addressed through devaluation, it obviously exacerbates the inflationary effect.”
“The policy must be clear. If the inventory is cleared in one day or gradually, In my opinion, this has to be done in the most sensible way. Equity issuance must be combined with investment policy,” he concluded.
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