According to a report by the Argentine Confederation of Medium-sized Companies, the production of SMEs fell 13.6% in July 2020 compared to the same month last year. Only 11% of the firms expect production to continue to fall in the coming months, while 27% expect increases.
Argentine agribusiness is much more than the export of food, grains and by-products: knowledge and technology play a crucial role that even today is already at the forefront of the export market. The seed industry positions Argentina as a supplier of soybeans to the northern hemisphere. According to projections, off-season seed exports -generally to the United States- generate a foreign exchange of between $150 and $350 million per year.
The current president of the Energy Commission of the Chamber of Deputies will leave his position to concentrate on the energy area, which from now on will be under the Ministry of Economy, to provide an integral vision to the energy factor, which affects the macroeconomic stability and the competitiveness of the added value. Martínez will leave the presidency of the Energy Commission of the Chamber of Deputies to take the place of Sergio Lanziani.
The telecom company Telecom announced a positive revision in its investment expectations in Argentina and informed that there will be an increase in flow from $500 million to $600 million. The decision was made after the success of the debt swap and the stability of the business.
Nissan Argentina is committed to investing $130 million in Argentina, to add value to production and enrich the integration of the production chain. In the medium and long term, it is committed to expanding its product range, developing local suppliers and exporting to more markets.
In July, industrial activity showed a 17.7% growth compared to June, according to data from the Centro de Estudios de la Unión Industrial Argentina (CEU). The report notes, however, that compared to the same month last year, production fell 10.7%.
The primary fiscal deficit slowed in July compared to previous months’ records and reached 155.52 billion pesos ($2.11 bn), the Economy Ministry reported. Total state revenues grew 16.1% year-on-year and 8.3% in monthly terms. On the side of expenditures, primary spending showed an inter-annual growth of 59.2%.
A family of four needed 44,521.25 pesos ($606) to overcome the poverty line in July, 39.4% more than a year ago, INDEC reported. The monthly variation of the basic food basket (BFB) concerning June 2020 was 1.6%, and the same difference had the total basket (TBC).
Industrial activity in July recorded an improvement of 5.9% over the previous month according to estimates by the consulting firm FIEL. For the second consecutive month, the index showed an advance, although production is still 7.9% below July 2019 levels.
Raizen, which manages Shell’s service stations, increased fuel prices to 6.8% in the metropolitan area. Raizen is a joint venture between Royal Dutch Shell and the Cosan Group, with a presence in Argentina since 2018. It has more than 700 service stations, one of the most important refineries in the country and a lubricants plant. According to fuel marketing figures, it is the second-largest company for sale in the country.