The president of the Intercooperative Agricultural Confederation (Coninagro), Lucas Magnano, stated on Wednesday that the country needs a “tax reform” while also noting that “the Country Risk must always be monitored and that Argentina can roll over its debt.” “We hope that the fiscal figures, which have looked a bit tight in recent months, will start to normalize and that the government will begin to build a more solid surplus to soon have news about retentions and fiscal relief for the entire economy,” he affirmed. In statements to Radio Rivadavia, accessed by the Argentine News Agency, Magnano also said: “It is a reality and a recurring issue the large volume of money that the agricultural sector invests in sowing, livestock, and dairy production.” He also stated: “The credits being promoted greatly help to give the producer confidence and simplifies the risk of taking on a loan, considering all the history we have in Argentina.” Magnano said that the call for investments launched by the Minister of Economy, Luis Caputo, was “not for the agricultural sector but directed at all sectors,” and highlighted “the large volume of money” that the rural sector invests annually. “It is a reality the large volume of money that the countryside invests every year, not only in sowing new campaigns but also in livestock, dairy production, and all regional economies,” he stated. In Magnano's opinion, “investment is part of the daily routine of the producer,” and due to current changes, “one must prepare not only to continue investing but also to change management within agricultural companies, because the way of doing business has changed quite a bit today.” “We need to continue with the reduction of retentions, we see the labor reform in a very positive way,” he said and considered that this new legislation “we will surely have to keep polishing from now on.”
