BUENOS AIRES, Nov. 19 (Xinhua) -- Argentine President Cristina Fernandez on Friday defended state intervention on economy and the country's policy to protect national industry.

During the conclusion of the 16th Yearly Conference of the Argentine Industrial Union (UIA) here, Fernandez said "we must have a state to set course, to tell us where to go, what model we want, where we are going to place the resources."

"After 2008, nobody thinks in a self-regulating market without state intervention. At the end of this year, when the crisis from outside affected us, the market disappeared and it was only the state to be in charge for the factories no to close," Fernandez said.

"The government will continue with a policy to define the national work and production," she added.

Fernandez's words came as worries that "excessive state intervention will drown the country's economy" were spreading.