From the Central Bank they anticipated that inflation “slowed down”

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The vice president of the BCRA, Sergio Woyecheszen, announced that April’s inflation “slowed down” and commented that “there is no magic” to stop it, in the midst of the discussion over price increases.

In this sense, the official stressed the importance of accelerating the growth of the economy “as much as possible” and argued that the best strategy that the Government can take is to cut spending.

After inflation reached 6.7% in March, Woyecheszen spoke a few days before the INDEC releases the inflation figures for April. In this way, he argued that “real spending” by the State has to be “positive” (that is, greater than inflation) to sustain the levels of demand that underpin the domestic market.

The main objective of his method is to give businessmen sales volume, and from there they achieve a scale that encourages exports, as he clarified in an interview with Public TV. In addition, he explained that the economy must grow “at least between two and three points per year” to create jobs and for that purpose he insisted on public spending.

On the other hand, he admitted that there were problems with the accumulation of reserves at the start of the month of April but that was later corrected: “We had a first quarter that was not as bad as we expected and in the second quarter, which is our ‘ high season’ for the accumulation of reserves, we had a poor start but in the last week the liquidation of foreign exchange accelerated”, he pointed out.

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