The UIA warned that the sharp rise in rates will affect economic activity

The president of the Unión Industrial Argentina (UIA), Miguel Acevedo criticized on Friday the rate hike set by the Central Bank to consider which will affect the economic activity although it awarded a transitory character to the measure.

"Of course this will affect, but we believe that the rates can go back down quickly and thus get back on track. new ", said Acevedo.

" They are not rates that can support neither SMEs nor individuals ", noted.

The business leader said that the dollar run was due to a financial situation, due to the exit of speculative capital, and warned that a prolongation of the period of high rates will have "negative effects on the level of activity."

Acevedo considered that the decision of the BCRA " impacts a lot by interest rates is that they will have to face the SMEs. "

When referring to the dollar's rise, the president of the business center noted that many people worry about the possibility that " cut supplies ".

The director of Aceitera General Deheza said that "here we are talking about the productive issue, this happened is exclusively financial", in statements made in the Santa Fe locality of Las Parejas, where he participated a meeting with industrialists in the area, which also had the presence of the Secretary of Industry, Fernando Grasso.

"What is going through the country is the result of the outflow of investment funds that speculated with the ' carry trade. It could happen if the context changed, but that is not the hard and fast investment, "recalled the UIA official.