The Government revealed that the deficit of the GDP projected for 2021 would be 4.5%. It will cover 40% of the deficiency by placing debt in pesos in the local market, and the remaining 60% by the transfer of profits from the Central Bank to the Treasury.
Private sector companies will be able to access only 40% of their dollar requirements for the financial debt
The Government issued a battery of measures with which it intends to reduce the demand for foreign currency, in which private sector companies will be able to access only 40% of their dollar requirements to pay financial debts in foreign currency and will have to present a detailed refinancing plan to initiate a process of renegotiation of their respective external liabilities. It occurs in a context in which reserves registered a notable fall to $388 million in September. So far this year, a retraction of $2.33 billion has been accumulated, while net reserves oscillate around $7 billion.
The Cauchari solar park, with 300 Mw of power, was commercially enabled, so it began to inject clean energy into the Argentine System of Interconnection (SADI). From Friday until last night, 245 Mw injected and it is very likely that by now it can reach 300 Mw. The work was executed by contractors Power China and Shanghai Electric, from the credit taken and the placement of an international bond (“green bond”) by the provincial government, and is part of the range of Chinese investments in Argentina’s energy.
The Government reported that as of August 31, the public sector debt as a whole, in pesos and foreign currency, amounted to the equivalent of $329.4 billion, $2.05 billion more than the previous month, as a result of placements and assistance from the Central Bank for $4.74 billion and payment of debt maturities for $2.69 billion. Total debt accumulated $16.12 billion in 9 months.
Agro-industrial exports are 73% of the total in the first semester and were the main generator of dollars.
The fall in prices that Argentine exports had to face in the first half of 2020 did not prevent the trade balance from showing a 44% improvement, with a positive amount of $8.09 billion, the highest recorded since 2009. There, agro-industrial exports represented 73% of the total amount shipped.