Argentina’s Minister of Economy, Sergio Massa, highlighted the “seriousness” of the country’s drought and promised to take measures soon to mitigate the risks in agricultural production.
“We understand the seriousness of the situation. We know the impact on livestock, regional economies, and some traditional crops, ” said the official during a meeting with representatives of the rural sector and agricultural entities.
The head of the economic portfolio affirmed that the drought problem, which already affects 55 percent of the Argentine territory, requires “quick responses” from the Executive and the sectors involved.
“This requires a macro look from all of us, quick response, and we want to take no more than five days of work together to establish those answers then,” he said.
“On Feb. 1, we have to be giving answers. I believe this is a shared work of all of us, zone by zone, activity by activity,” the minister added.
In the agricultural sector, losses due to the drought are estimated at close to 11 billion dollars, according to data from financial entities associated with the industry.
The Rosario Stock Exchange estimated that nearly US$ billion would no longer enter the country in exports.
Considered the worst drought in the last century, the drought affects more than half of Argentina’s territory.
Particularly the northern areas of Buenos Aires, the provinces of Santa Fe, Entre Ríos, and Córdoba (center), and Chaco, Formosa, and Santiago del Estero in the north of the country are suffering.