Argentine Industry Chief Rebuffs Economy Minister's Remarks

The president of the Argentine Industrial Union (UIA) has responded to Economy Minister Luis Caputo's critical remarks about the industrial sector, stating that such comments do not foster necessary dialogue. Martín Rappallini asserted that defending industry is not at odds with macroeconomic stability, inflation reduction, fiscal balance, or economic normalization.

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They are not happy statements that help the dialogue that is so needed to move this country forward.

Rappallini emphasized that Argentina needs a competitive industry integrated into the global market and capable of exporting. He pointed to several factors hindering competitiveness, including tax burdens, labor costs, inadequate infrastructure, financing difficulties, unfair competition, and declining domestic consumption. These issues, he noted, are significantly impacting many industrial sectors.

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Defending industry is not incompatible with defending macroeconomic stability, low inflation, fiscal balance, and economic normalization.

Caputo had previously questioned individuals who speak about industry, suggesting that despite high prices and subsidies, the industrial sector declined. Rappallini clarified that the UIA is not advocating for privileges but for equitable conditions to compete. He stressed the importance of addressing the specific problems that affect the sector's ability to thrive and contribute to the national economy.

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We are not defending privileges, but we want to have the same conditions to compete. This is the point.