Metallurgical production registered a 2.1% year-on-year drop in August, according to a report prepared by the Association of Metallurgical Industries of the Argentine Republic (Adimra).
September tax revenues grew by about 5.5% year-on-year in real terms, higher than inflation for the first time this year. In nominal terms, the State obtained revenues of 606,508 million pesos ($7.89 bn), which meant an increase of 43.7% compared to the same month in 2019 against inflation estimated at around 40%.
The government stressed that the announced economic measures apply export rights in a differentiated manner to small and medium producers, compared to large companies, and said they expect the field to liquidate up to $4 billion of the grain harvest stored in silos and silo bags.
In the last 12 months, real wage decline is 6.9%. In that period, the total wage index showed a growth of 32.6% while prices rose 42.4%. INDEC released the data for July, which concerning the same month in 2017, real wages accumulated a drop of 20.3%. Unemployment was 7.2% in 2017, at the beginning of 2020 rose to 10.4%, and in the second quarter, it rose to 13.1%.
Drought and fires continue to deepen the production crisis in the province of Formosa, with a significant percentage of its territory affected by water shortages. Lack pastures and the fires have already caused the death of about 20% of the local cattle stock of 2 million heads, and it expects that there will be a decrease in calves for next year.