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UPDATE 1-Incoming Argentine treasury minister aims to cut 2017 deficit
December 30, 2016 / 2:07 PM / a year ago

UPDATE 1-Incoming Argentine treasury minister aims to cut 2017 deficit

(Adds comments from Caputo on debt, background on Prat-Gay firing)

BUENOS AIRES, Dec 30 (Reuters) - Argentina’s incoming Treasury Minister Nicolas Dujovne said on Friday he would look to lower public spending to cut Argentina’s expected budget deficit for 2017, currently seen at 4.2 percent of GDP.

In his first public comments since being named incoming treasury minister, Dujovne said at a press conference that his main objective would be to continue with center-right President Mauricio Macri’s economic policies.

Luis Caputo, Argentina’s incoming finance minister, said on Friday the administration was considering tapping debt markets in January, citing the recommendation of banks. Dujovne and Caputo are expected to formally take office next week.

On Monday, Macri fired current finance minister Alfonso Prat-Gay, citing differences over management style, and split the ministry into two - a treasury division and a finance division. Argentina’s economy remains in recession one year into Macri’s term. (Reporting by Luc Cohen; Editing by Chizu Nomiyama and Phil Berlowitz)

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