The Minister of Economy supported the Government's direction and projected an improvement in economic variables.
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The Minister of Economy, Luis “Toto” Caputo, supported the economic direction of the Government of Javier Milei and anticipated that “high-impact measures” are coming in the coming months.
During an interview on the Economists program on Public TV, the official combined a strong defense of the model with direct criticism of business sectors, who resist the new rules of the game.
“There are some who don't want to compete and who seek macroeconomic disorder to get what they want,” he said, referring to those businessmen who are used to the impoverishing model of Kirchnerism.
Luis Caputo.
Caputo argued that the current economic scheme targets the entire population. “The economic model is for the 48 million Argentines,” he said, while stressing that the stability achieved is explained by fiscal balance. Along these lines, he contrasting with previous stages, stating that “before it was financed by raising taxes, debt or
issuance”.
The minister also questioned the practices of some private sectors. “They want margins of 200%,” he said, defending economic openness and competition as tools to generate “more reasonable” prices compared to previous years
.
Regarding the financial system, Caputo stated that the current scenario marks a change in trend.
“There are people who borrowed at very high rates thinking that the dollar and inflation were not going to stop,” he said, although he projected that bank default would tend to decrease.Javier Milei and Luis Caputo.
In this regard, he highlighted that “banks returned to operating as banks”, specifying that about 50% of loans are aimed at the private sector
.
Another point he highlighted was the evolution of foreign currency deposits and credits. “Today we are at record levels of deposits in dollars, at 38 billion, and loans are also at record levels,” he said.
Caputo also defended key government initiatives, such as the Fiscal Innocence Bill, and sought to clear up doubts about the stability of the model. “The Kuka risk is zero because there is no possibility of going back,” he said.
In this context, the minister anticipated that “high-impact measures” are coming in the coming months, which will further boost the country's economic growth.
On the exchange front, he stated that the stocks “have been eliminated by 90%, it is almost symbolic”, and he projected an improvement in the main economic variables. “Inflation is going to converge downwards,” he concluded
