Macri Announces ‘Marshall Plan’ To ‘Reconstruct’ Argentina
Source: The Bubble
By: Nina Ariana
The Macri administration has announced aims to boost public work and attract investments of US $100 million and has called this new direction “The Marshall Plan.” Sounds familiar? That’s because Macri is borrowing the namesake of a strategy that was used by the US to help Europe rebuild after World War II. Why Macri’s cabinet decided to name their new strategy after a plan that took place 70 years ago following a global catastrophe that left Europe in shambles remains to be explained.
According to Fortuna, the government is aiming for 3 percent growth in 2017. The private sector is in agreement with the projected growth but cautions that factors like inflation, the “energy crisis” and competition must also be taken into consideration for this number to become a reality.
The Plan is comprised of eight “pillars” that include aims to: lower the cost of capital; improve infrastructure and lower logistics costs, energy and transportation; train workers; work with scientists to innovate home industries; lower costs tied to litigations and make salary negotiations (collective bargaining) tied to “productivity”; lower labor and production costs; and open the market “without destroying home industries.”
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