Argentine President Javier Milei announced new changes to the country’s monetary regime, with the expectation of tax reductions starting in August, although he did not indicate a specific date. The information was published this Friday (28) in an interview with the newspaper The Nationaccording to the Politics Online
“The zero fiscal deficit phase has passed, now we are going to the zero emissions phase. Now the change in the monetary regime is coming. Our objective is that what is called a broad monetary base no longer varies”, stated Milei.
Milei confirmed that the 17.5% tax that applies to transactions in dollars in the official market will fall to 7.5%.
According to Milei, the economy in the Argentine country is fully recovering and growing. “As the economic situation is restored, what will happen is that the simple monetary base will be more similar to the broad one, until interest-bearing liabilities disappear”, she indicated.
“Once the issue of put options is resolved, this would put an end to interest-bearing liabilities. When we also manage to converge towards inflation, when this entire set of elements is brought together, the conditions will be in place to get out of the trap”, added the Argentine president.
The Argentine parliament approved President Javier Milei’s economic reform megaproject, known as the Basic Law. With approval, Milei will now be able to make some decisions without needing legislative approval for a year. Furthermore, the president will have incentives to make investments and authorization to privatize some Argentine state companies that are already in the sights of Casa Rosada.
#Milei #confirms #tax #reduction #August #Argentina