The Business Convergence Forum calls for policies given “the seriousness of the economic situation”

The Business Convergence Forum issued a statement this Saturday, in which it highlighted that « the seriousness of the economic situation «  needs to « adopt policies that allow expectations to be reversed quickly, contribute to growth and generate opportunities for progress for all Argentines « .

« The repeated State intervention in the activities of the private sector of the economy, through measures similar to those taken in the past that had adverse effects, it affects economic growth and the private investment process, which is already at historic lows « , sentenced in the text.

And in this line, he specified that measures such as the intervention of the Information Technology and Communications Services market, « ICT », through DNU 690/20, « is added the prohibition of agricultural exports, he freezing of food and service prices, electricity and gas rates; and the cancellation of the increase granted to prepaid medicine on the same day it had been approved « .

As stated, adverse effects of these measures such as « decrease in the area sown to crops whose export is prohibited or limited, loss of cattle at rodeos and markets of export that later are very difficult to recover; and decrease in gas and oil production« have already been experienced in the past.

And this results in « the the need to import fuels as is already being foreseen for this winter, shortages of products and the consequent loss of investment and employment « .

« The cancellation of the increase in prepaid medicine affects the entire private health service. Faced with headline inflation of approximately 36%, with cost increases that were substantially higher due to the coronavirus pandemic, the sector received only a 10% increase in December -precise-. This leaves the entire private medicine sector, which serves 70% of the country’s population, in a situation of uncertainty regarding the sustainability of the service. « 

He stated that the seriousness of the economic situation requires the adoption of policies that quickly allow expectations to be reversed, contribute to growth and generate opportunities for progress for all Argentines.

And it has to be done « by consensus on economic measures that promote growth and investment in the different sectors of the economy, with the aim of recovering the level of activity, generating registered employment and promoting exports as well as supplying the local market.  »

In this sense, « the recent decision to enact the knowledge law, which seeks to provide predictability to a growing sector and exports high value-added services, seems to us the appropriate way to generate investments that support economic growth and its consequent generation of work « , they indicated.

Finally, he concluded that the associations that make up the Business Convergence Forum « they agree on the need to share both the potential and the particularities of each activity »; and in turn « They renew their commitment to establish bridges of dialogue in order to generate economic growth and work by promoting investment in a context of crisis. »

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