Massa draws up objectives for US trip

Economy minister’s plans for visit to Washington, Houston all point in the same direction: the acquisiton of dollars, upping economic activity and boosting Central Bank reserves.

Officials from the Economy Ministry this week laid out a new plan to slash utility subsidies for the nation’s highest earners while protecting low-income users, a move it helps will boost efforts to reduce Argentina’s fiscal deficit. Sergio Massa heads to the United States next week on his first overseas tour as economy minister with three clear objectives: jump starting the flow of dollars entering Argentina, securing investment and boosting the Central Bank’s meagre reserves.

On Thursday the government launched the so-called ‘dólar tecno,’ a new exchange rate available to companies dedicated to exporting services within the knowledge economy. The announcement was made by Massa during the presentation of the Argentina Programa 4.0, a project centred on the training of hi-tech professionals as well as promoting the services offered by the sector.

Massa’s week has also included announcement of a regime to promote exports by the auto industry, promulgation of the law to white wash construction investment and a programme of incentives for oil companies, which was to be followed by similar incentives for the mining industry and a new version of the ‘soy dollar’ before the week is out.