Argentine Economy Minister Calls for Savings to Be Moved to Banks

Argentina's Economy Minister Luis Caputo, citing the newly enacted Tax Innocence Law, has urged citizens to move their savings to the banking system. He stated this would accelerate economic growth, allow for tax cuts, and lead to higher wages.

Buenos Aires, Feb 9 (NA) — Following the regulation of the Tax Innocence Regime, Argentina's Minister of Economy, Luis Caputo, has called on all citizens to move their savings into banks. The minister referenced a previous message from Chief of Staff Manuel Adorni, who had celebrated that the law 'enters into full force' this Monday. 'Now, everyone, take your savings to the bank,' Caputo expressed. He added: 'This would strongly accelerate economic growth; we could lower taxes more quickly, be more competitive, increase employment, and lead to better wages. For years, policy expelled millions of Argentines from the system and then punished them for trying to protect their savings.' 'Full benefit,' he concluded.

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