2023-05-21 12:03:45
BUENOS AIRES, (Xinhua) – The Argentine Economy Minister, Sergio Massa, questioned and rejected the proposal to dollarize the country by sectors of the local opposition before the upcoming presidential elections.
«How much market will they be able to sustain with salaries of 100 dollars and with dollars of 1,900 pesos for their production? That is dollarization,” Massa said before representatives of small and medium-sized enterprises (SMEs) that participated in the launch of the “Crear” credit line during a Banco Nación event in the city of Buenos Aires.
The official indicated that the local industry and economy “has a 40 percent incidence of the dollar in its production, for intermediate goods and for finished goods that are part of the value chain.”
In this regard, he mentioned that two models are at stake in the South American country, referring to a “development model” and another of “financial speculation.”
«It is a choice regarding a country model in which there is a debate and a permanent tension between the economy associated with the generation of value, industrial development, job creation, versus the economy associated with speculation and also the fictitious generation of value based on the search for profitability in financial instruments”, said Massa during the event.
“Those of us who want work, development, added value, the ability to compete against the world, have the obligation to defend our production capacity using exchange competitiveness,” he added.
In Massa’s version, with this type of proposal, labor rights, union rights and the productive capacity of small and medium-sized companies are also at stake.
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