translated from Spanish: Budget 2021: Martín Guzmán prepares his presentation to Deputies

Seeking to take the first steps of the legislative process referring to the “law of laws”, the Minister of Economy of the Nation, Martín Guzmán, will say present in the Chamber of Deputies to present and defend the draft Budget 2021, at the beginning of the debate of the initiative. The presentation of the official to the Budget and Finance Committee, led by Carlos Heller, will be at 16:00 on Tuesday through the remote operating system that was established within the framework of the coronavirus pandemic. It is estimated in this regard that the treatment of the project would take a month of debate before arriving at the venue. The Government estimates in the text sent to Congress that next year it would end with cumulative inflation of 29%, a dollar to $102 and a 5.5% recovery in Gross Product (after an expected fall of 12.1% for this year).

The primary deficit will be 4.5%, a level to be endorsed by the IMF under the agreement that began to be discussed to refinance some US$44 billion, whereo 15% will be allocated to gender-related public policies. Once approved in both Chambers, the Budget will seek to obtain a third approval: that of the International Monetary Fund. In that instance, exchange-change policies play an important role again. The organism does not see the change controls with good eyes. For this reason, Guzman tries to signal an economic “normalization”, with the aim of unifying the exchange rate. Guzman’s reading
The minister assured that the draft Budget sent to Congress “is a fundamental step in the way of reassuring the economy.” It is a budget that has as its central objective the economic recovery,” said the head of the Palace of Finance in a series of messages posted on his Twitter social network account.In this line he marked that “this requires a state that boosts demand and goes hand in hand with the private sector on the path of productive reconstruction with work generation and value aggregation”. He added that “step by step we must build an orderly economy, where debt sustainability is guaranteed and the tax is no longer structurally dependent on Central Bank financing.” The projections we set out as a guide to economic policy are prudent. Context requires us to exercise wisdom. We need policies to transform reality on the basis of caution and accountability, not illusions of dubious foundations,” he said.
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Original source in Spanish