Fernández boosts social security pensions for low income people

Argentina president Alberto Fernández announced a 13% increase in pensions for low-income people (below AR$20,000) and two other allowances for families and children that will go into effect next month. Higher pension bands will increase between 9.8% and 3.8%. A new program that will make free 170 medications for pensioners will also be launched. Last week Economy Minister Martin Guzman had said that the government would not impose austerity on an economy expected by analysts to shrink by 1.5% this year, and would not continue paying what he called the unsustainable debt load that was left by the previous administration.

Source: El Economista