Clear rules and long-term policies encourage quality investment

Helping build increasingly effective states that provide comprehensive answers to growing social demands is one of the priorities of CAF - Development Bank of Latin America. Those were the words of the institution's representative/director in Argentina, Andres Rugeles, who also stressed the importance of strengthening institutions in order to increase efficiency in public procurement.

During his speech at the closing session of the forum "Better Investments = Better Services.  Transparent, efficient and responsible use of scarce resources: the role of public procurement," Rugeles said that strong institutions and clear playing rules are essential in inspiring confidence among all economic players and international capital markets, which, in turn, promotes quality investment and enables high, constant, sustainable and quality economic growth.  "From CAF's perspective, we consider the efforts from President Mauricio Macri's administration to be very positive in building a long-term vision that projects the country into the future," he added.

According to the Economy and Development Report (RED) conducted by CAF in 2015, which focused on an analysis of the State and its effectiveness, public procurement was shown to have an important place in terms of its magnitude in economies: in countries in this region it represents around 3% of the GDP and 12% of public spending.

Also attending the forum as CAF representatives were Pablo Sanguinetti, Corporate Director of Economic Analysis and Knowledge for Development, and Christian Daude, Director of Socioeconomic Research.