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Milei announced that on Monday there will be a national network to announce the fiscal surplus for March - Infobae
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Milei adelantó que el lunes habrá una cadena nacional para anunciar el superávit fiscal de marzo
El Gobierno cerrará el primer trimestre de la gestión con una racha en superávits gemelos. En simultáneo, el Presidente defendió la falta de gradualismos para reducir el gasto fiscal y los índices de inflación
www.infobae.com
April 20, 2024
The Government will close the first quarter of its administration with a streak of twin surpluses. At the same time, the president defended the lack of gradualism to reduce fiscal spending and inflation rates.
The president will appear on national television to announce the results of the first three months of his administration in economic matters (AP)
Within the framework of the closing speech at the Llao Llao Forum before all the CEOs who participated in the meeting held in the city of Bariloche , President Javier Milei announced that he will hold a national chain to celebrate the fiscal surplus achieved in March. “The first quarter of the year ended with a positive financial result,” he highlighted, as it was the first time in the last decade that the indicator remained in the green.
During the last month, the trade balance indicated that the Government once again reached the twin surpluses with a cumulative surplus of more than USD 2,000 million. In this way, the libertarian administration will be the first to sustain the indicator for three months in a row, which had been recorded for the last time 16 years ago during the second presidency of Néstor Kirchner .
This will occur even when the fiscal accounts for March returned to the red, according to a report from the Argentine Association of Budget and Public Financial Administration (ASAP), where specialists highlighted that last month the fiscal imbalance, both primary and financial, was reinstated. . However, the difference in reds and greens that ASAP had with what was reported by the president was due to the “accrual” basis methodology used by the institution, since it computes expenses that are incurred but not necessarily paid in that period. . In the calculations of the national administration, these amounts were discriminated, so they provided a real figure of the situation.
For this reason, the head of state considered it a priority to hold a national broadcast next Monday, April 22, to announce the fruits of the fiscal policy that was implemented in recent months. “We are going to be creating a national network where we are also going to be announcing the tax numbers,” Milei said, stating that the objectives set would be on the right track.
The president announced that one of the future plans will aim to eliminate taxes
“I warn you that the first quarter of the year ended with a positive financial result,” the president highlighted and then criticized opposition analysts who were predicting an alleged explosion of the deficit. However, they did not clarify whether new measures will be presented for the rest of the year in the nationwide broadcast.
Although the head of state was reluctant to give advances on the plans that the administration would have in economic matters, the truth is that during the speech he gave to the CEOs of the region he announced that "the future will be with a lot of low taxes". In this sense, he hinted that he does not plan to deviate from his course towards a freer economy and country.
Javier Milei with the businessmen who participated in the Llao Llao Forum
“I'm not going to settle for being like Germany , I want to be like Ireland . “I want a profound liberal revolution,” Milei confirmed, noting that her desire would be for the national GDP per capita to be “50% larger than that of the United States .” However, he stated that his task will be to be in charge of balancing the macro economy, but that the micro economy will be the responsibility of the businessmen present at the forum, whom he urged to "put their balls together and invest."
Outside of the projections, the president pointed out that “75% of Argentines understand that we are worse off,” despite the rise that the market began to show as a result of the fiscal adjustment carried out. However, he maintained that the “first part of the growth will be a rebound, growth due to decapitalization and a falling inflation rate,” and then assured: “We are going to sweep.”
On the other hand, the president explained that the tax cut policy is expected to cause a 15-point increase in GDP, because that amount will no longer be part of the State's coffers. “The 15% of GDP that was previously taken by the State in fiscal deficit for parasitic activities returns to the private sector for productive investments,” he noted, predicting that it would benefit the index with an aggregate sum of between four and five points of additional growth.
