Sunday , June 13 2021

Javier González Fraga, on the economy: "The surgical operation is over" – 12/05/2018



The head of the National Bank, Javier González Fraga, assured that the financial and fiscal plan promoted by the Government, will give "enormous possibilities" for re-election to President Mauricio Macri.

"Surgical operation is over, rehabilitation is now"He pointed out the economic measures at a Bank Magazine financial seminar on the Stock Exchange.

In addition, prior to Clarín's request, he supported the BCRA's measure to eliminate 60% of the floor rate, ensuring that goes in line with a drop in inflation expectations.

"The operation (of monetary and fiscal correction) is over, we are now beginning to tread the path of exchange rate stability and I would like the dollar to float in the middle of the flotation band. We get a reasonable exchange rate and people do not want to swap delays, "he said.

The official was also optimistic about the scenario not only for a sudden drop in inflation, but also in the rates, just when the Central Bank announced the measure known on Wednesday.

"Inflation is falling dramatically and it is time to download stocks. In fact, it seems to me that next year will be closer to 20 than 30%. This month's rate has already hit 60 percent and will also fall sharply, "he said.

In the same line of other businessmen, he predicted that "after the summer, with the arrival of the good harvest, the fortress of Dead Cow, improvement in regional economies and wage increases, we will have a better 2019. "

"GDP next year will grow, from end to end, which is December versus December, between 1 and 2%, with which President Mauricio Macri will have great chances of being reelected, "he said.

On the other hand, before the Clarin, rejected the "press operations" to move it from the management of the entity, before the versions that his place would be occupied by former Minister of Production Francisco Cabrera.


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