Bank loans in Argentina expected to double over the next three years
Banco Santander Rio CEO Enrique Cristofani, forecast Thursday that the volume of loans in the Argentine financial system will double in the next three years. He also estimated that the economy will grow next year by 4% in a context that offers great opportunities to the country.
“The Argentine financial system will double the volume of credit in relation to GDP within three years,” said Cristofani during his speech at the annual press gathering. He also foresaw the coming years as a process in which “the Argentineans have a great opportunity to grow as a country,” which will be up to not only the government but to all entrepreneurs, workers, politicians and every member of society.“ Cristofani likened Argentina's economic future to a sporting match: ”we have to win by playing as a team,“ he said.
Cristofani also underlined that ”the challenge for Argentina is to achieve structural competitiveness, and the pillars on which the structural competitiveness is based on are the cost of capital, infrastructure, reduction of the tax burden and and investment in human resources.“
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