Argentina’s unemployment rate rose to 9.7% in the third quarter versus 9.0% in the same period of 2018, marking one of the highest rates recorded in recent years, the National Institute of Statistics and Census (Indec) reported.
The volume of exports of fractionated wine grew by 3.1% (more than 1,773,000 hectoliters), and bulk wine by 21% (more than 983,000 hectoliters) in the January / November period of this year. Concentrated grape juice is the product that has grown the most in 2019 with a 32.9% increase in shipments abroad of just over 127,000 tons.
Argentina plans to partially roll back an export tax on hydrocarbons to a maximum of 8% from a previous 12%, according to a change to the emergency bill sent by the Government to the Congress. The trims come at a time when Argentina is re-emerging as a modest pipeline gas exporter, mainly to Chile, thanks to rising shale production. Argentina’s crude exports increased 14% in January-October, on the year, to 66,442 b/d, according to energy secretariat data.
Argentina has roughly $39.3 billion in interest and principal denominated in pesos and dollars coming due to private creditors next year, according to government data. The country wants to continue making debt payments while it renegotiates with its creditors in the coming months, said the presidente of the central bank (BCRA) Miguel Angel Pesce. He added that what the Government “doesn’t want during this negotiation period for some maturity to end up provoking an unwanted default”.