BUENOS AIRES, Aug 7 (Reuters) – Argentina’s economy chief Sergio Massa on Sunday appointed a new head of the Energy Secretariat, which has handed out multimillion-dollar subsidies in recent years that have fueled a growing budget deficit.
Flavia Royon, who has most recently overseen energy affairs in the northern province of Salta, is tasked with trying to cut subsidies to reduce Argentina’s budget deficit, which has caused the peso currency to depreciate and inflation to rise, which is expected to hit 90 % will exceed. this year. Continue reading
“The goal of everyone must be our energy sovereignty and the transformation of Argentina into a leader in this field,” Massa, who took office on Wednesday, said in a tweet.
Sign up now for FREE unlimited access to Reuters.com
Massa also appointed Federico Bernal as Secretary of State for Hydrocarbons.
Massa’s political acumen is widely regarded as the key to rescuing Argentina’s economy, which has been plagued by sky-high inflation, crippling debt and chronic over-indebtedness.
The “super minister,” as some call him, announced a raft of austerity measures and measures to boost dwindling foreign exchange reserves on his first day in office.
Sign up now for FREE unlimited access to Reuters.com
Reporting by Nicolás Misculin; Writing from Daina Beth Solomon; Editing by Jacqueline Wong
Our standards: The Thomson Reuters Trust Principles.
Comments are closed.