During the IDEA Colloquium in Mar del Plata, the Argentine government's economic team shared some definitions about the future of the government plan. Economic growth is expected despite exchange controls, as there is hope that investments will increase with the rise in credit.
The president of the Central Bank, Santiago Bausili, mentioned the importance of using dollars from the capital amnesty to support the local economy. It was also confirmed that the dollar will continue to adjust below inflation and that there will be no sharp devaluation to avoid financial shocks before next year's legislative elections.
The government will focus on maintaining fiscal balance and ensuring economic stability before making any significant changes. Future measures include the possibility of reducing tax pressure, assessing which state functions could be assumed by the private sector.
Regarding the gradual exit from currency restrictions, a sequential process is proposed, starting with the liberalization of imports, followed by the flow of investments, and lastly, the repatriation of profits. Although the exact timeline for these stages has not been revealed, it is speculated that they will be carried out progressively.
One of the most notable aspects of the event was the majority support for the government and its economic plan, especially concerning inflation and the favorable outlook for Argentine assets. The expected declaration of assets is around USD 14.5 billion, which will help strengthen the local economy.
In summary, the Argentine government seeks to stabilize the macroeconomy and improve fiscal balance before implementing significant changes. Economic growth is expected to continue with the arrival of investments and the backing of international reserves.
