businessmen demanded an economic plan

a virtual colloquium with Alberto Fernández, Axel Kicillof, Felipe Solá and Martín Guzmán

Minister Martín Guzmán announcements

Minister Martín Guzmán announcements

An economic plan. That was what, without much ado, several of the most prominent businessmen who usually meet at the IDEA Colloquium they complained to the Government. It was on an Internet forum where they went online to answer questions. One of the axes that flew over a good part of the responses was the demand for the Government to present the guidelines of what it will do in the coming years.

“What the businessmen demand is an economic plan that says concrete things. It is necessary to know the future course, the four-year plan, what can we expect in terms of taxation, fiscal matters, interest rates and the exchange rate. How are they going to make the fiscal deficit. That is the answer that is lacking and that we all hope can emerge from agreement that the Government negotiates with the IMF. That is the basis for plan investments“said one of them.

The virtual meeting was in charge of the organizers of the 56th IDEA Colloquium and was attended by the headlines of several of the leading companies in mass consumption, banking, automotive industry and legal services. The slogan that was asked of the more than 20 journalists who asked the questions was off the record.

The tone of the businessmen was critical and did not hide the doubts which, with greater or lesser emphasis, all revealed about the management of the President and his team. But at the same time they weighed the presence of Alberto Fernández during the opening of the Colloquium and its call to dialogue.

“The President opened the door to start seeking consensus, which has worked on some fronts. If we see what the agreement between the UIA and the CGT was, dialogue and consensus worked“said one of the participants, from the automotive sector.” What the Government, the ADEFA companies and the Smata union did in the automotive industry also worked to navigate this difficult time. Instead there were other things, such as the Law of Telecommuting, where there was no dialogue and it did not workfrom “.

From a leading sector in mass consumption it was claimed that there is a roadmap on how to get out of the economic crisis. “We do not know how the way out of this post-pandemic crisis will be, and how much it will affect us as a country. We come from the crises of 2018 and 2019 and we know when we are going to have an economy that will generate employment again, that investments will appear again, “said a reference in this sector.

-Were you concerned that the President said that the deposits are guaranteed?

-What the President said about deposits are clarifications that add up. We all know from our relatives of the fear that exists that your deposits are confiscated. So it helps that there are clarifications. As for the exchange issue, it is a trust issue. What the exchange gap expresses is that a plan is missing to say specific things – said a manager of the banking sector.

“You have to work to narrow the exchange gap, generating the necessary foreign exchange. In the last 50 years Argentina had a shortage of dollars. Lack of trust is what generates that gap, “added an industry leader.

With the two tips of the dollar value separated by a gap of more than 100%, there were no requests for devaluation. Rather the only concrete expression on the subject was in the opposite direction. “A devaluation is going to be a phenomenal carnage and those who have the least will suffer. If the Government says that it is not going to devalue it, it will be because they will have a plan, “said, skeptically, another of the referents called by IDEA.

Regarding the economic program, there was a strong emphasis on demanding that the Government give up the role to the private sector. Minister Martín Guzmán hinted that the Government will be in charge of reactivating, of moving Argentina forward. And i’m afraid not the government but the private sector the one who has to do that. We must liberate the productive forces of Argentina, which is the private sector. Guzmán knows a lot about economics, but it is the private sector that has to give the big kick, “said another of the businessmen, from the industrial sector and used to saying” on “almost the same as saying” off. ”

Public spending, legal certainty and tax pressure were other issues addressed by businessmen. These were some of the answers.

“Public spending is not a problem in itself, the problem is the deficit. It is simple: you just have to try spending more than you earn at home for two or three years and when you see that the house is executed you will see what Argentina is (…). Excess spending creates poor people, as paradoxical as it sounds. Nobody wants to lower public spending in a year, but there has to be a responsible public administration. ”

“With the pandemic, people intensively consumed household appliances using the Now 12 and Now 18 plans, taking advantage of the dollar gap and the availability of pesos. We do not know how consumption will continue in 2021, but there was a recovery in the sale of cell phones, televisions and appliances. Regarding imports, the Government stated that there should be import substitution of final products such as white goods and household appliances, for example. This is from Argentina pendular, the fact that as entrepreneurs we have to adapt to an opening and a closing of the economy. We need predictability and continuity of public policies. It is very difficult to make investment plans and have the rules changed in such a short term. ”

“It was assumed that with the last tax reform we were going to remove distorting taxes for production such as Gross Income, the check tax or municipal taxes and now they all came back, recharged. The tax pressure was 23% in 2000 and today it oscillates between 40% and 42%, this level of tax burden is unheard of. The only logical tax is Earnings, which is not distortive. Minister Guzmán is quite clear about that. ”


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