2024-07-30 21:24:48
The President of Argentina, Javier Milei promised the agricultural sector this Sunday to eliminate taxes and several exchange rate restrictions, but asked for time to stabilize Argentina’s economy first.
“This administration will always be on the side of the Argentine countryside,” Milei emphasized at the 136th annual exhibition that the Argentine Rural Society (SRA).
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Milei stressed his objective of ending the withholdings on the liquidations that producers receive for their sales abroad, as well as the “exchange rate restriction” and the exchange control in force since 2019 that limits access to dollars in a country where the US currency.
“Nobody wants to get out of this disastrous model as much as we do, where the State, between withholdings and restrictions, It expropriates 70% of what the countryside produces“This will end once and for all,” said the Argentine president.
Javier Milei came to power last year supported by large agricultural producers, but despite his promises to reduce taxes on the countryside, as for assumed increased withholdings from 31% to 33% for exports of soybean flour and oil, two products that carry great weight in Argentina’s trade balance.
On Sunday, the president of the SRA, Nicolás Pino, praised Milei’s presence at the Rural, but insisted on the sector’s demands.
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Argentina, known as the breadbasket of the world, is the world’s third largest producer of soybeansbehind the United States and Brazil.
It exports 70% of its agro-industrial production, which represented 55% of Argentine exports in 2023a volume that means significant tax revenues for the State.
(With information from AFP)
MC
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2024-07-30 21:24:48