Mendoza’s governor, Alfredo Cornejo, together with the financing team of the Ministry of Finance are now in the USA to present the first-year results of the public management to investors.
This visit is aimed at showing the evaluation of the proposed objectives presented at the end of 2015, when the elected governor had not taken office yet and which are now fulfilled.
At the end of 2015, the elected Governor together with the future Minister of Finance, Martin Kerchner, carried out a roadshow throughout the USA to show the province’s financial plan aimed at mitigating the fiscal deficit of the previous government administration (Kirschner’s presidency).
Plan presented at AS/COA
– To make public expenditure efficient focusing on the supplies and investments for Security, Education and Health.
– To reduce the tax burden by the progressive decrease of taxes in active economic sectors.
– To improve Government human resources through the use of new technologies for staff management and public management procedures.
– To show the investors the Province’s natural and economic benefits to foster the infrastructure works in Logistics, Transport, Energy, Tourism and Technology.
The 2015 mission allowed the province of Mendoza to place a BOND for U$D 500 million in 2016.
“Arising from this successful process, closed in New York at 2:00 pm, a coupon rate of 8.375% was achieved. It means a strong support of the international financial market to the province of Mendoza, avoiding the use of the province’s oil and gas royalties as payment security. This shows a sign of confidence in the economic growth process and proper tax administration of the new government team led by the Governor Alfredo Cornejo and the Minister of Finance Martín Kerchner”.
Source: PH Government of Mendoza