In remarks published by Argentina’s Ministry of Finance, Economy Minister Luis Caputo urged continued fiscal and monetary discipline and reviewed agricultural reforms at the Argentine Rural Society’s year-end meeting of directors and delegates. He rejected renewed money creation and higher public spending as a response to external shocks. Caputo attributed country risk primarily to fears of a return to past policies, alongside external shocks that he described as stronger and more prolonged than expected. Reviewing the government’s record, he cited elimination of the fiscal deficit in its first month in office, recovery in central bank international reserves and lower inflation. He also reported that 12 million people had moved out of poverty. For agriculture, Caputo reviewed previously implemented tariff reductions and changes to export duties. These included removing export duties for dairy, pork and regional economies, and reducing them for meat and major crops. He also highlighted the opening of 226 markets and authorization to import used machinery. Caputo linked these measures to an increase in planted area of nearly 3 million hectares, record agroindustrial and beef exports, and record harvests of wheat, corn and sunflower.
Argentina’s Ministry of Finance highlights call to maintain fiscal and monetary discipline
Argentina’s Ministry of Finance published remarks by Economy Minister Luis Caputo to the Argentine Rural Society advocating continued fiscal and monetary discipline rather than increased spending or money creation. He linked country risk chiefly to concerns about policy reversal and reviewed the government’s reported fiscal and inflation improvements. Caputo also recapped agricultural tax and trade measures, attributing expanded planting and record exports and harvests to those changes.