Mire maintains support in field despite delaying withholding tax reduction

2024-07-28 17:03:41

President Javier Miley He maintained his support for the agriculture sector despite delaying specific announcements on reducing withholding tax on rural prime demand and confirming that paise tax would be reduced from September.

The Head of State was greeted with loud applause and cheers, something he repeated many times during his speech this morning at the opening of the 136th Rural Exhibition organized by the Association of Rural Affairs in the city of Buenos Aires.

The president’s participation in the exhibition raises different expectations because, in addition to departmental issues, it will also be a reunion with Vice-President Victoria Villarreal after the conflict with France.

Villarruel arrived at the scene around 11 a.m., walked from the garage to a special room and then walked down the corridor to the official box. A few minutes later, the Secretary-General of the Presidency, Karina Milei, made the same journey, with no possibility of their crossing. Unlike previous visits to the countryside, Villaruel avoided contact with the media.

Millais revived the past ritual of the opening of the exhibition, entering through the Sarmiento Street gate in a car with a sliding roof, half his torso extended, patrolling the central courtyard, greeting those present and being greeted by a Accompanied by an escort.

After going downstairs and finding his place in the official box, where most of the President’s cabinet was waiting for him, the President greeted the passengers in the first row and when he arrived at Villaruel, he kissed the cheek and stretched out his Take action. During her formal speech through a loudspeaker, Villaruel received a standing ovation from the crowd in the stands of the main stadium, responded with a bright smile and raised her arms in salute.

Javier Milei’s speech in the countryside

While it is certain that Milley will not make any major announcements, the president’s remarks are in hopes of getting some more or less firm signals on the main focus in this area: the elimination of withholding taxes.

Mire did not deviate even a millimeter from what he said and made it conditional on a combination of permissible economic factors.

In this sense, he thanked Nicolás Pino, president of the Rural Association, who publicly expressed his support for “patience” with the national government: “I thank you for your words of tolerance and patience, because the improvements are visible. “

The president was careful to emphasize the importance of the agricultural sector to his government: “Today I come to the historic headquarters of the Association of Rural Affairs to renew the association’s pledge to rural Argentina. “We want the countryside to be part of the new social contract we build with Argentines center of. “

The most important data for the industry is the confirmation – and by this means – that the government will reduce state taxes from 17.5% to 7.5% in September, which is now an important factor in the financial equation for the next growing season. Decide.

Mire’s speech was built around highlighting results on macroeconomic issues, restating his government’s road map and adding a raft of scathing criticisms of socialism, including an endorsement of the rural central court’s stance.

The president took the opportunity to confirm his belief that currency devaluation is not an option for the current Argentine economy and that some measures are still needed to fully improve the exchange rate.

“Despite the pressure, we will not rush to incite. There is time and conditions to the plan. “You need to see the movie, not the photos,” the president said.

Milley insisted that his government “will not stop until inflation is eliminated, and when we achieve that, we will boost the stock market.” Removing patches without addressing the underlying problem will worsen the situation. “

Regarding withholding taxes, he made only an inconsequential mention when he recalled that he refused to share them with the provinces.

“Withholding taxes remain in the executive branch and will be eliminated. This is my commitment,” he stressed. Previously, Pino had told the president: “We take your word for it.”

Likewise, Milley has publicly defended agricultural production and dismissed criticism of the industry for the damage it causes to the environment.

“Agricultural production will not cause harm to the environment, if anything, poverty and hunger will be more harmful,” the president said. He concluded: “This government will always stand by the side of rural Argentina and will not allow itself to be intimidated .

Likewise, he stressed that “there are many lies to defend sectoral interests. One of them is that agriculture does not create jobs and currently its formal employment participation rate is about 25%.

On the other hand, the president insisted on opening his economy to international trade and called the “import substitution model” a failed model.

“We are not speculators”

Before Milley spoke, Rural Association President Nicolas Pino spoke and explained his support for the president.

“We believe it’s useful to give governments the same space of trust that citizens give to governments,” Pino said.

He then entered discussions about the industry’s liquidation and said: “Producers are not speculators, but efficient people who manage what they produce. We are not selfish giants, as people sometimes say, ‘sitting on soybeans,'” It “does not liquidate” its products, speculates on price fluctuations, and ignores the country’s foreign exchange needs and the people’s food needs.

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