MercoPress. South Atlantic News Agency

Business concern in Argentina with inflation trend: “double the official figure”

President of the Argentine Industrial Union (UIA), Héctor Méndez

Argentine businessmen from different sectors showed their concern about the upward trend of the inflation and assured that “the real volume doubles the one reported by the Indec national statistics bureau.”

The head of the Argentine Industrial Union (UIA), Héctor Méndez, considered that “the inflation hits 20%, but the figures reported by the government don't reach to 10%” and added “I hope we can correct this,” because “we can’t settle other variables because it can complicate the economy.”

Anyway, Méndez assured that “it's not an issue that extremely worries Argentina as it did in the past,” and remembered that “inflation used to coup governments 20 years ago.”

The head of the UIA affirmed that “inflation can not be measured as an isolated index, it goes along with many other indexes.”

Méndez also urged businessmen to “stand by the government in order to seek solutions and mend what needs to be mended,” as he admitted that they should focus their efforts “in the country and the people as a whole.”

“Standing by our government is the best way to contribute to society,” he said.

“As leaders we have to focus our efforts in our country and the population as a whole instead of focusing on our sectors' interests,” he explained.

He then praised the attitude of CGT labour confederation leader Hugo Moyano, who as soon as former President Néstor Kirchner died called Méndez in order to restart a dialogue and find some common ground, avoiding any kind of social unrest.

“Moyano has proven to have great humility by taking the first step and calling us” the UIA leader said.

Méndez then insisted on the need to start supporting the government, and highlighted the need of thinking more about the “general interests” of the population.

“We're ready to bet on a successful dialogue instead of conflict,” he said, as he clarified that “negotiating means that both sides have to give something up.”

An open debate on inflation, and its causes has shown dissenting opinions inside the cabinet of President Cristina Fernandez de Kirchner.