Day: September 3, 2020

Food basket went up 3.2%

The basic food basket increased by 3.23% in August in the city of Buenos Aires. Among the items that grew the most were sunflower oil, 11.4%, onions, 11.2%, milk in the sachet, 9%, eggplants, 8.7%, and apples, 4.2%. Meanwhile, in beef, the increases varied between 1.9% and 2.7%.

Tax collection fell 5.1% in real terms in August

August tax revenues registered a nominal increase of 33.5% year-on-year to 612,146 million pesos ($8.25 bn), according to the Federal Administration of Public Revenues (AFIP). Discounting the effect of inflation, the tax revenues last month fell in real terms by only 5.1% compared to August 2019, which indicates a level similar to that before the quarantine. During the first eight months of the year, tax revenues exceeded 4 trillion pesos ($53.88 mn), with a nominal year-on-year increase of 27.3%.

Between importers and “solidarity” dollar, they took $400 mn of Reserves in 3 days

Between the buyers of the $200 monthly quota and the importers, they took just over $400 million from the BCRA’s reserves in three days. It confirms the pressure on the Central Bank to sell dollars. The Reserves closed at $42.64 billion, the lowest value in the quarter. The drop was not more significant because they sustained based on the revaluation of gold and the euro, two assets that are among the reserves.