CFK warns businessmen, says 'real profit will not come from high prices'

While handing out government subsidies to industrial parks, President Cristina Fernández de Kirchner warned about inflation and told businessmen that “real profit will not come from high prices.”

After previous requests for “rationality” to union leaders demanding "over-the-top" salary hikes, the President explained that profit would only come from “technological innovation and new markets,” instead of inflation.

Mrs. Fernández de Kirchner also insisted on the need to “expand the current economic model by replacing imports with local production,” focusing not only on cars but also on science and technology.

“Tractors and combined harvesters have become a necessary tool in Argentina’s farming sector. And that’s why we want them to be made here. That is our greatest challenge if we want to be competitive.”

During the ceremony, Mrs. Fernández de Kirchner handed out over $3.9 million in Non-reimbursement Contributions (ANR), which would be destined to the internal infrastructure works of thirteen industrial parks.