Day: January 16, 2020

Argentine banks record 318% profit in four years

Public and private financial entities earned in November 2019, ARG$26 billion ($4.35 billion), 143.9% more than in the same period of 2018 and 317.9% more than in 2015, according to a report by the Central Bank (BCRA). However, the improvement was uneven: private banks grew 566.7% in four years while public banks decreased their profit by 37.9%.

Argentina fiscal deficit 2019 was equivalent to 3.9% of GDP

The fiscal deficit of 2019 was ARG$846 billion ($14.13 billion), equivalent to 3.9% of Argentina’s GDP, according to the budget execution report published by the Congressional Budget Office (OPC). A higher tax collection and the adjustment over public spending allowed a primary surplus of ARG$5.5 billion or 0.3% of GDP, which implied an improvement of 2.2 percentage points in relation to 2018.

Biotech is rewriting Argentina’s startup DNA

Argentina is becoming a major player in biotechnology and a place primed for startups since the Biotechnolgy Law 2018. One well-established example of a success story is Rosario-based Bioceres which hit the New York Stock Exchange recently. Amongst the ten top are Caspr, Michroma, WeBio, Cell Farm, Alytix, Bitgenia, Beeflow, algaebio, Aplife, and MZP Tecnología.