'Without Congress approval, there'll be no credit access'

Revenue and Finance Minister Alfonso Prat Gay attends the inaguration of Congress ordinary sessions.

Revenue and Finance Minister Alfonso Prat Gay talked with reporters as he arrived in Congress to attend the inauguration of ordinary sessions by President Mauricio Macri and urged lawmakers to back the government-sponsored bills that will allow the settlement of the legal dispute with so called “vulture” funds.

“It is the proposal we made in a court where we lost a trial. It is the first time in history that an offer is made with a reduction on the interests,” Prat Gay affirmed.

“What we promised in the campaign was the increase of the minimum income tax, to take it to 30,000 pesos and we did; we said that during this year we will discuss a scale ahead. We must understand we have a great fiscal deficit. We have to put the accounts the previous government left in order.”

“We have to finance the deficit the previous government left. And we can do it through inflation and money issuing or with an adjustment in public spending and we don’t want to do it that way, but financing the deficit,” the minister affirmed.

“We will discuss our project and we will explain why our project is the best. If we don’t have that, we can’t have access to credit. What legislators and governors request will be easier,” he said.