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Javier Milei delegated control of public works to Luis Caputo - Infobae
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Javier Milei delegó en Luis Caputo el control de la obra pública
El presidente firmó el decreto que faculta al ministro de Economía a estar al frente de la contratación y ejecución de construcciones, y de la adquisición de materiales, maquinarias, mobiliarios y elementos destinados a ellas
www.infobae.com
May 17, 2024
The president signed the decree that empowers the Minister of Economy to be in charge of the contracting and execution of constructions, and the acquisition of materials, machinery, furniture and elements intended for them.
The Minister of Economy of Argentina, Luis Caputo (REUTERS)
The Minister of Economy, Luis Caputo , continues to concentrate power in the Government of Javier Milei. The president delegated control of public works , one of the points where the Executive passed the “chainsaw” and one of the main issues of confrontation with the governors.
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Through Decree 414/2024 , published this Friday in the Official Gazette , the head of State delegated to the head of the Treasury Palace “the powers and obligations for the contracting and execution of constructions, works or services that have the character of work public and for the acquisition of materials, machinery, furniture and elements intended for them, within the scope of its jurisdiction .
In turn, Caputo is authorized to subdelegate said powers “to the Secretaries and Undersecretaries of his jurisdiction, competent in the matter.”
The decree, which bears the signatures of Milei, the Minister of the Interior Guillermo Francos, and the Minister of Economy himself, instructs the Chief of Staff, Nicolás Posse to “dictate the administrative acts and order the procedures he deems necessary, in order to adapt the execution of public works authorized by particular regulations or in the course of execution to the new distribution scheme of powers established” as a consequence of the new Government organization chart established by the current administration.
In the recitals, the Executive Branch justified the decision by pointing out that it seeks to "provide" the Ministry of Economy "with the necessary instruments for the best achievement of its objectives - based on the assigned powers."
The Executive Branch delegated the powers over the management of public works to Caputo after last month the Ministry of Economy officially absorbed secretariats that belonged to the eliminated Ministry of Infrastructure that Guillermo Ferraro commanded at the beginning of the administration .
In this way, the Secretariat of Territorial Development, Habitat and Housing, the Secretariat of Public Works, the Secretariat of Transportation and the Secretariat of Concessions remained within the radius of the Palacio de Hacienda.
In practice, key areas that belonged to Infrastructure were already working under orders from the Ministry of Economy. Caputo closely supervised the rate decisions made by Transportation, and also led meetings with construction businessmen to inform them of the plans to sharply adjust the allocations for public works.
aviso_307612.pdf
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Luis Caputo confirmed that in April there was a fiscal surplus for the fourth consecutive month
The Minister of Economy announced this Thursday that the National Public Sector registered a fiscal surplus in April for the fourth consecutive month, this time of $17,409 million, product of a primary surplus of $264,952 million and interest on the public debt net of intra-public sector payments for $247,543 million.So far this year, the Government has accumulated a positive balance in public accounts, including the payment of debt interest, for 0.2 points of GDP, as detailed by the head of the Treasury Palace through his official X account.
The main detractors of the official policy and some economists point out that the adjustment carried out by the Government may have limits going forward. In particular, they point out the social and political sustainability of the cuts in a context of economic crisis. The biggest contribution to the drop in spending had to do with retirements, other social expenses and public salaries.
In this regard, Miguel Kiguel 's consulting firm Econviews had pointed out: “There are two ways of seeing how the adjustment has been distributed so far. One is the absolute contribution to the fall in spending, and there it emerges that the 'blender' on pensions and other social expenses (44%) and public sector salaries (11%) explains more than half. The 'chainsaw' to public works (22%) , economic subsidies (12%) and transfers to the provinces (6%) is the other 40% (the provinces' share is partly due to lower collection of co-participating taxes).
In any case, in the first quarter the difference between accrued spending and the cash basis, that is, what was actually paid, amounted to $2 trillion between the $680,000 million that remained from the previous Government in 2023 and $1.3 trillion of liabilities that the management accumulated. by Milei. Although this amount of “floating debt” is not historically high, it does not include Cammesa 's debt with electricity generators and natural gas producers , which, ultimately, are commitments of the Treasury.
