Yesterday, the Government ordered a 10% increase in the price of biodiesel and bioethanol that mixed with fuels. The measure, which takes effect today, increases the value that consumers pay at the pump. Also, the Liquid Fuels Tax shall update tomorrow.
The software industry in Argentina expects to create 11,000 jobs this year, with an average salary of $91,000 ($1,175) per month. More than 300 companies in the technology sector, which account for 25% of total jobs in the activity.
September inflation was 2.8%, just above August's record of 2.7%. The year-on-year variation was 36.6%. During the first nine months of the year, the Consumer Price Index registered an increase of 22.3%.
AgriRed, a marketplace for agricultural inputs in Argentina, is now seeking to establish itself in Brazil. The electronic marketplace, which targets only wholesale buyers in the chain, already records monthly transactions of $1.2 million and generates demand for more than $7 million. The platform now operates with more than 700 companies in the sector that buy and sell agricultural inputs from this channel.
Transparency Internacional's (TI) report is harsh on Argentina, which, although it has made progress in anti-corruption legislation, still lacks sanctions and transparency in information. Argentina, as measured by TI, contributes only 0.3% of global trade and is among the 15 countries that registered limited actions. The so-called law of corporate criminal responsibility, sanctioned in 2018, achieved a step forward in the fight against corruption and its image worldwide. However, so far, no company has been charged under this law.
Argentina registered the fifth largest drop in Gross Domestic Product among the G20 countries in the second quarter of the year, due to the preventive quarantine of the pandemic. According to the Indec, Argentina's GDP dropped by 16.2% in the first months of the obligatory quarantine.