The Minister of Economy of Argentina resigned

Nicolás Dujovne resigned from the post of Minister of Economy of Argentina on Saturday. In a letter addressed to President Mauricio Macri, the economist recalls that he has exercised this function since January 2017 and indicates that the government needs “a significant renewal in the economic area”.

Dujovne says in his letter that in his administration there have been achievements “in the reduction of deficits and public spending, in the reduction of distorted taxes in the provinces, in recovering federalism. He also notes, “without a doubt, we have made mistakes.”

Nicolás Dujovne resigns six days after Mauricio Macri came in second place, as a candidate for re-election by Together for Change, in the Open, Simultaneous and Mandatory Primary elections (STEP), 15 percentage points below the opponent Alberto Fernández.

After the defeat in the primaries, Macri announced on Wednesday a series of economic measures in response.

The measures include tax cuts for workers, an increase in the minimum wage, a freeze on gasoline prices for 90 days and an increase in student scholarships, according to a statement from the Presidency of Argentina.

Exit Dujovne, enter Hernán Lacunza

According to the state agency Télam, citing sources from the Executive, the replacement of Nicolás Dujovne in the Ministry of Economy of the Nation will be Hernán Lacunza, who serves as Minister of Economy of the Province of Buenos Aires.

Jorge Roberto Hernán Lacunza, says Télam, is 49 years old, has a degree in Economics and previously served as general manager of the Central Bank, and the City Bank.

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