Economy Minister Luis Caputo conditioned the full removal of export taxes on a second term for Javier Milei and attributed the rise in country risk to 925 points to fears of a change of government model.
The national Minister of Economy, Luis "Toto" Caputo, confirmed to leaders and delegates of the Sociedad Rural Argentina (SRA) that the total elimination of export taxes will remain conditional on a second term for Javier Milei. The definition, awaited with resignation by the sector, was set out during a meeting in which the official gave an account of the government's economic direction.
"If we had another term, I have no doubt that we would finally end all these export taxes," the economist stated.
After presenting a review of the main economic variables of recent administrations and highlighting the elimination of the fiscal deficit, the reduction of monetary issuance and the recovery of reserves, Caputo referred to the uncertainty over the surge in country risk, which this week reached 925 points. According to what he said, it is essentially the fear of some about returning to a previous government model.
"The problem is not that President Milei is there. What some are afraid of is that he will not be. Some link it to the elections in the United States and so they believe that US support will be lost. The American ambassador has already said it, nothing is going to change. Then the perception of what can happen in the elections is each person's perception. I am tremendously calm," Caputo said.
The minister also questioned those who still promote other economic recipes. "There are people who still believe that the solution to the problems is to trample on private property, to expropriate farms, to have galloping inflation, to print money, to put taxes on wealth. There are people who believe in that and we are in a democracy and that is definitely respected, but I don't think it is the majority. For those who get nervous, those ideas enhance the stature of our president," he stated.
Regarding agricultural activity, the minister celebrated the deregulation and trade opening measures implemented. Among the main ones, he listed the reduction of tariffs for agrochemicals and fertilizers, the elimination of export duties for dairy, pork and regional economies, and the reduction of export taxes for beef, soybeans, corn and sunflower.
He also mentioned the opening of 226 international markets, the increase in the beef export quota to the United States, the elimination of export restrictions and the possibility of importing used machinery.
"There are plenty of reasons to be optimistic. It is time to be aware that we are at a moment in which we must not be fooled, neither by the past nor by believing that there are shortcuts. There are none. The only way for Argentina to get out is by keeping this course and staying together," he concluded.
