Argentina's new Minister of Economy, Silvina Batakis, showcased the guidelines of her administration in her first press conference.

In this context, she ratified compliance with the agreement with the International Monetary Fund to pay off a debt of 44 billion dollars.

She also announced that all public agencies will have to stick to their budgets and that they will not receive additional funds.

In this sense, she also informed that all hiring in the State will be suspended.

"I am a person who believes very much in fiscal balance" asserted Batakis.

She also stated that the exchange rate is balanced and that this year's grain harvest will be a record one.

The Minister also confirmed the implementation of a new system for public utilities fares, which implies that only households in need will be subsidized.

She also announced greater controls to prevent speculation and guarantee competition, in order to curb excessive price increases.

In this context, she highlighted the complexity of the international scenario with the war in Ukraine, which had an impact on international food and energy prices.