📢 ARGENTINA LOGRÓ SUPERÁVIT GEMELO POR PRIMERA VEZ EN 14 AÑOS
Esto podría traducirse en una menor inflación y tasas de interés más bajas.
🗣️ Antonio Laje
👉 Seguí en #OtraMañana
📺 a24.com/vivo
Esto podría traducirse en una menor inflación y tasas de interés más bajas.
🗣️ Antonio Laje
👉 Seguí en #OtraMañana
📺 a24.com/vivo
Category
🗞
NewsTranscript
00:00The most important data for the economy that has been known this week is that Argentina had a twin super-edit
00:05That's right.
00:06In 2024, and it's something that didn't happen 14 years ago.
00:09Can you explain to me if this has any impact on our daily lives?
00:13With an example, let's try to make it as simple as possible.
00:15And what does the twin super-edit mean?
00:17The first thing, since Argentina didn't have it 14 years ago,
00:20something that more or less we all know, let's remember that it is not having a twin super-edit, that is, deficit.
00:25The first thing we have to look at is the state, the public accounts.
00:29When you have a deficit, which is what has happened to us in the last 14 years,
00:32you spend more than you earn.
00:34And that difference, since the state cannot break it, you have to cover it with something.
00:39What can you do to cover that difference?
00:41Well, on the one hand, get into debt.
00:43With that, you are trying to fill the glass.
00:46Another thing you can do is generate new taxes, because you need to have more income.
00:51You have to raise money.
00:52And then you fill the glass.
00:54And another thing you can do is issue money, when you can no longer get into debt and create new taxes.
01:00This is how you fill this glass, which is actually being emptied because you spend more than you earn.
01:05What does all this generate, Antonio?
01:07Well, it generates inflation and loss of purchasing power.
01:10Very good.
01:11Those measures.
01:12On the other hand, since we are talking about, let's talk about the twin super-edit,
01:15we have to look at the commercial balance.
01:17What about the outside?
01:20And Argentina recurrently bought more from the world than it sold.
01:26That is, it imported more than it exported.
01:28What does that do?
01:29That our glass of foreign trade is emptied.
01:32And you have to cover that difference with something.
01:34Then the reserves of the central bank came to try to fill this glass,
01:40and that ended up consuming the reserves of the central bank.
01:44You spent them.
01:45What does that bring?
01:46To have a commercial deficit.
01:48Excuse me, you have to pay for the imports.
01:51Of course.
01:52You import more, but you need the money.
01:54And our economy, to produce, needs to import.
01:57What did that generate?
01:58Well, it weakens your reserves and you start to have more risk of a devaluation.
02:03The devaluation generates inflation and that generates recurring crises,
02:07when you have a commercial deficit.
02:09Well, the history of Argentina.
02:11Exactly, the last 14 years.
02:13What happened last year?
02:14We had a super-edit.
02:15What does the super-edit imply?
02:17That the two glasses start to fill up.
02:20So, since you don't spend more than you earn,
02:23the state doesn't need to generate new taxes,
02:27it doesn't need to issue,
02:29because it is earning more money than you spend,
02:32and it doesn't need to issue debt either.
02:35And this is very important, Antonio, the famous letters.
02:38Because when you start, if in the medium term you maintain the twin super-edit,
02:44when you start not being forced to issue debt,
02:47the interest rate of your economy starts to go down.
02:50That's good for the credits,
02:52to start talking about the impact that having the twin super-edit has on our daily lives.
02:56And on the other hand, in the foreign trade,
02:58when you start having super-edit, you sell more to the world than you buy,
03:02this glass starts to fill up with dollars.
03:04So what starts to happen is that these dollars that you genuinely generate
03:08start to nourish the central bank's reserves as a flow.
03:12And that strengthens you.
03:14The exchange rate, you don't have so much risk of having a devaluation
03:17in the middle of this exchange rate delay discussion.
03:20Because you genuinely generate dollars for the central bank's reserves.
03:23So, does it have an impact on our daily lives to live in a country with a twin super-edit?
03:28Yes, you have less risk of a devaluation, the dollar is strengthened,
03:32therefore less risk of inflation increasing,
03:35also because you don't need to issue money,
03:38and you start to live in an economy where the interest rate goes down.
03:41Because the state doesn't have to go out and get in debt all the time,
03:44and that debt has to be more and more tempting.