The Chamber of Commerce supported the government for the "extraordinary changes in macroeconomic terms."

Mario Grinman , president of the Argentine Chamber of Commerce (CAC), defended the national government's management. His statement comes from a radio interview he gave this Sunday.

"This government, despite all the criticism it faces, has made extraordinary changes in macroeconomic terms. Taking over a country with sky-high inflation and ending July with 1.9% is no small feat ," Grinman noted.

Although he also mentioned that inflation "is high" compared to countries in the region, he highlighted the government's results over 18 months. "It's an excellent result achieved in 18 months. There is a surplus and fiscal balance over time, something that has never happened in Argentina : only seven times has the country achieved fiscal balance," explained the Argentine businessman.

Furthermore, the president of the CAC acknowledged to Radio Rivadavia that the economy "is tight," with some sectors experiencing mixed results. "There are sectors that are doing well (such as automotive), others that may not be going through their best moment (such as supermarkets), and others that are much more complicated (such as food wholesalers)," he explained.

Natalio Mario Grinman, head of the Argentine Chamber of Commerce

CAC

Along those same lines, he emphasized the "cultural shift" among consumers, as "people are no longer stockpiling, but rather buying individually ." Grinman also criticized the opposition and questioned Congress, citing a party that "is doing everything possible to attack the executive branch's bottom line , which is the fiscal surplus."

In this context, he predicted that the rate increase "will continue until the end of October, then they will begin to normalize." "I have the impression that once October is over, the government will change its strategy and begin to engage in more policymaking," the businessman predicted.

Grinman then emphasized that the Executive Branch will have "more leverage" in Congress, as it will gain a larger number of representatives and senators and will seek to forge more alliances. Regarding the opposition, the CAC president emphasized that "too much is being asked of the government," citing tax cuts as an example.

"When we ask them to lower taxes, we're only asking the National Government, not the governors," Grinman said. He added: "There are several provinces that are implementing 'internal customs': when you enter a province from another jurisdiction, you have to pay an advance on Gross Income. You never get that back, and that's why the tax rate is starting to increase."

"We must demand that the provinces make the necessary adjustments so that we don't have to continue raising taxes," the Argentine businessman stated.