The meeting takes place after knowing the inflation for April, which was well above expectations. there could be news tomorrow
By iProfessional
13/05/2023 – 19,50hs
The Minister of Economy, Sergio Massa, holds meetings with his cabinet of secretaries to analyze possible measures after knowing the new inflationary jump of 8.4% in April.
The meetings are held at the Palacio de Hacienda and among the attendees are Vice Minister Gabriel Rubinstein; the chief adviser, Leonardo Madcur; the president of the Central Bank, Miguel Pesce; the head of the AFIP, Carlos Castagneto; the one from Customs, Guillermo Michel, the one from INDEC, Marco Lavagna; the Secretary of the Treasury, Raúl Rigo; Finance, Eduardo Setti; Agriculture, Juan José Bahillo; Energy, Flavia Royon; Industry, José De Mendiguren and Commerce, Matias Tombolini, the undersecretary, Germán Cervantes and Ricardo Casal, the legal secretary.
What did Massa discuss with his cabinet?
The meeting takes place after the inflation data for April was known, which was well above the expectations of both analysts and private consultants, as well as government officials themselves.
As reported, Massa could announce a measure this Sunday afternoon.
From the Secretary of Economic Policy commanded by Gabriel Rubinstein, they issued a statement in which they recognized the extremely high number of the cost of living last month, and argued that “the exchange rate unease in the financial dollar markets, in the last part of the month, prompted preventive price increases in many products and services in our economy”.
Massa would announce the new measures this Sunday
Within this framework, the leader of La Cámpora, Máximo Kirchner, insisted on demanding that the government provide for a fixed-sum wage increase, beyond the increases agreed upon in parities.
Last Tuesday, Massa assured the CEO of JP Morgan in Argentina, Juan Gómez Minujin, that in terms of revenue the government has the priority to sustain the purchasing power of the population’s income, and to maintain economic activity, which is showing signs of weakening in a year in which the impact of the drought is felt with full force.
During the meeting, the officials discussed issues related to spending, the monetary situation, the price level, interest rates and reserves.
