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Tax exemptions are equivalent to the fiscal deficit

Once again, the attempt to eliminate the income tax exemption for judges and judicial employees generates strong controversy. This is one of the many exemptions in force. Within the framework of a general organization of the tax system, explicit subsidies should be contemplated instead of exemptions. (more…)

The worst is yet to come in terms of inflation

The inflation rate remains at a very high level with very negative impacts on social costs. Inflation is intrinsic to the government’s economic policy. It will not be reversed without a change in strategy. In particular, public spending must be moderated to avoid massive monetary creation. (more…)

The federal government should not regulate utilities in AMBA

In order to avoid the collapse of the agreement, the IMF had to loosen the targets given the very high inflation. The main cause of inflation is the monetary emission demanded by economic subsidies. This will not be solved with the delayed segmentation of tariffs but with a reorganization of the State. (more…)

One – third of the people are condemned to lifelong poverty

Between the poverty data and the results of the APRENDER tests, the conclusion is that one-third of children are poor and do not have access to quality basic education. This condemns them to poverty for life. To change this reality, more social spending is not enough. An integral reorganization of the State is needed. (more…)

Central banck’s debt “snowball” nears 2018 level

The optimism generated by the success of the “soya dollar” overlooks the growth of Leliq (the central bank’s debt) that it provokes. The experience of the previous government with the Lebac (predecessor of the Leliq) is very instructive. When they grow too much, they impose the need for a big devaluation. (more…)

Budget confirms fiscal inconsistency

The government presented the draft Budget 2023. In addition to a complex and disorderly presentation, the projections have little relevance because they have been elaborated under an unrealistic inflation assumption. In any case, it confirms that the fiscal disaster continues to deepen. (more…)

The soya – dollar increases inflation

The more the soya-dollar increases reserves, the more monetary issuance there will be, consequently, more inflation. There is an underlying obsession with increasing reserves when efforts should be focused on lowering public spending. The problem is not a lack of dollars in the economy, but that there are too many pesos. (more…)

The cost of Leliqs is equivalent to 8 million minimum pensions

The economic crisis ceased to be the center of attention due to the serious incident suffered by the vice-president. But the economic situation goes on worsening. Proof of this is that what the Central Bank spends on Leliqs interest is already equivalent to two-thirds of what the ANSES spends on pensions and retirement benefits. (more…)

Leliqs festival to defer the ordering of the state

The coming inflationary acceleration is not new. It is the result of postponing the reorganization of the State and financing the deficit with monetary printing and debt. It has already happened to Cristina Kirchner and Cambiemos. The question now is whether the opposition this time is ready and willing to organize the State. (more…)

The festival is about printing pesos, not of imports

The Minister of Economy resigned in the context of a strong exchange rate instability. The Vice-President blames it on the “festival of imports”. The evidence shows that there is no excess of imports, but an excess of monetary emission due to the disorder of the State. This is what puts pressure on the dollar. (more…)