'It's clear that the economy has dropped'

The head of the Argentine Industrial Union, José Ignacio de Mendiguren, admitted that "it's clear that the activity level has dropped," and warned that "the construction-related sectors are delying new projects."

Regarding the economy, De Mendiguren admitted that there are external factors that have an impact on it, but assured that there could be "better tools to face" this situation.

The head of the UIA also referred to the currency exchange controls and to the situation triggered by this restrictions.

He considered that the controls in the exchange market that have paralyzed the purchase of dollars did not directly affect the industry.

Nevertheless, he warned that "it is risky if the ones that work in economics base their thoughts in the 'blue' dollar."

De Mendiguren also backed the import controls, but stated that Argentina's "level of activity is linked to the import of supplies."