Miley will meet with Sturzenegger to define the new ministry: what functions it will take over from the Chief of Staff

chairman Xavier Miley will be meeting with federico sturzenegger yesterday to define the scope of his new ministry. Although there was speculation about the possibility that it was a secretariat or ministry very close to the President, which he hinted at Information: “It will be a ministry.”

Specifically, he elaborated that it would be a “ministry that would work to deepen the reform of the State, the regulation of the economy, and enhance freedom in general and economic freedom in particular.”

When the source was asked if there would be an overlap with the economy ministry that leads Louis Caputo, He said clearly: “No. Changes in the structure of the Chief of Staff; “He stops being a super minister to become a coordinating minister.” The “fine print” of the new portfolio will be who will be in charge Guillermo Francos

And By Santiago Caputo, according to the sources.

In this way, Franco, who was recently promoted to the position, will be left with the ministers and the negotiations with the provinces, while the following areas will move to the portfolio of Sturzenegger, former president of the BCRA under Mauricio Macri. Current organizational chart of the Chief of Staff:

• State Transformation and Public Works Secretariat
  Under Secretary of State for Transformation and Reform
  Under Secretary for Development and Modernization of Public Employment
  
• Innovation, Science and Technology Secretariat
  Undersecretariat for Information Technology
  Under Secretary for Innovation
  Under Secretary for Science and Technology
  National Contracting Office
  National Communications Unit (ENACOM)
  National Genetic Data Bank
  National Commission for Space Activities
  
• State Facilitation Secretariat
  under secretary for deregulation
  Under Secretary for Regulatory Quality
  
• Secretary of State Companies and Companies
  Under Secretary for Corporate Governance
  Under Secretary for Corporate Legal Support
  Under Secretary for Management Policies and General Coordination
  Old Puerto Madero Corporation S.A.
  Radio and Television Argentina S.A.
  Telam S.A
  Public Materials SA
• Decentralized Organization

Sturzenegger was one of the intellectual architects of the Base Law and the DNU, with which Miley began his government. From the beginning, both in private meetings and in his public speeches and messages, he avoided referring to the macroeconomic issues handled by Luis Caputo’s area. “Macro issues are Toto’s” he often repeats to investors and analysts who visit him.

This extreme care not to step into “other people’s garden” derives from the poor relations between the two during the Macri government, when Caputo replaced Sturzenegger as Central Bank president. Under Miley’s leadership, each man intends to tackle his specific issues without hesitation, while a third expert, Damian Riedel, He also resides in the planetarium of the presidency as head of advisers. Riedel has a degree in physics from the Balseiro Institute, a master’s degree in financial mathematics from the University of Chicago and a PhD in economics from Harvard University. Riedel, an almost permanent companion on the president’s trips, prefers to limit himself to medium-term issues to attract investments to the country.

The job of the head of state will be to try to ensure that the work of the three produces positive synergy and not noise. In this sense, Sturzenegger is expected to bring with him part of the team he was in charge of at the BCRA.

Yesterday, Sturzenegger underscored the importance of a thread on the X Network that his former vice president publishedLucas Lach. “This formula that measures how much each family earns is important, with a reduction in inflation.” In that message Lach highlighted that “the fall in inflation not only improves real wages. In addition, it is a relevant reduction in the wealth tax. The tax base (unpaid wealth) would be US$30 billion. Reducing inflation from 10% to 5% reduces the wealth tax by US$1.5 billion per month, about $100 per family/month.

“Reducing the wealth tax for the non-financial private sector from 10% to 5% of monthly returns, amounts to an amount per household that not only exceeds the *increase* in the average gas and electricity bill of high-income households, but also exceeds its absolute amount”, Llach indicated.