The government of Javier Milei in Argentina will promote tax and labor reform, according to Economy Minister Luis Caputo during his participation in the Idea Colloquium.

Regarding labor reform, the official indicated that the changes are fundamental to ridding the country of an archaic, rigid system where the working class is the most affected and where employment does not grow. Consequently, a labor system is needed that is “more agile, more dynamic, and that puts an end to the lawsuit industry, which favors a small handful against all Argentines.”

Regarding tax reform, Caputo emphasized that it will focus on “eliminating many taxes, lowering others, and simplifying the tax regime.” He also mentioned that “there will be significant incentives to develop domestic savings.”

The minister addressed key issues such as the capital market, long-term domestic savings, the fiscal deficit, and private sector investment, all while considering a new development model.

Caputo urged business leaders and executives to embrace the change: “At this point, I find it almost archaic for people to believe that the only way Argentina can be competitive is by having a weak currency. A weak currency is nothing more than a reflection of a weak economy. It also seems to me that it’s an understatement to you, to the business community, to tell you that the only way you can be competitive is by having a depreciated currency.”

M.Pino

Source: lacapital

(Reference image source: Ivan Henao on Unsplash)

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La entrada Argentine government to apply a labor and tax reform apareció primero en Bitfinance.

The president of Argentina, Alberto Fernández, appointed Silvina Batakis as the new Minister of Economy after the resignation of Martín Guzmán due to pressure due to the economic situation in the country.

Batakis is 54 years old, is an economist and held the position of Minister of Economy of Buenos Aires between 2011 and 2015, during Daniel Scioli’s administration. Currently, she is secretary of provinces of the Ministry of the Interior since December 2019.

The new minister has a degree in Economics and a master’s degree in Public Finance from the National University of La Plata and a master’s degree in Environmental Economics from the University of York, England.

Batakis’ appointment as Economy Minister comes after a day of meetings with the presence of the president of the Argentine Chamber of Deputies, Sergio Massa, and Alberto Fernández’s closest advisers.

Until now, the person in charge of the Economy portfolio, Guzmán, declared his resignation in a letter addressed to President Alberto Fernández and published on his official Twitter account: “With the deep conviction and confidence in my vision of what is the path that should follow Argentina, I will continue working and acting for a more just, free and sovereign Homeland”.

K. Tovar

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Source: La Voz

La entrada Argentina has a new Minister of Economy apareció primero en Bitfinance.