Poverty in Argentina rose to 44.2%

During the last year, poverty measured in income, rose from 40.8% to 44.2%, totalling 18 million people. In one year, 2 million new poor people added. Destitution totalled 10.1%. It is the highest figure of the decade, although it was moderated by the assistance provided by the State during the health crisis resulting from the coronavirus pandemic. The most relevant data of the study was the growth of multidimensional structural poverty that in one year went from 21.4% to 27.3%, showing a deepening of the country's inequalities.

Unemployment rose to 14.2%

In one year, unemployment rose from 10.6% to 14.2% due to the effect of the pandemic and quarantine. Also, the population's participation in the labour market and the number of available jobs decreased. The situation led to a further increase in income poverty, multidimensional poverty and structural poverty.

ACONTimber will invest more than $80 mn to set up a mega sawmill

The industrial plant of ACONTimber, Austrian-Belgian company, will invest more than 80 million dollars in setting up a mega sawmill in Corrientes. It will begin to build next year and its full operation plans for 2023. The tax exemptions for 15 years tipped the balance to make the disbursement. The industrial establishment will be in a 21 hectares property, and in principle, it will demand about 240 workers. The state-of-the-art sawmill will process 500 thousand tons of wood rolls with the possibility of doubling the amount in the short term.

The Iraola Group will invest $105.88 mn to manufacture Kawasaki motorcycles

The Iraola Group, which groups brands such as Corven Motors, Zanella and Kawasaki, announced the investment of 900 million pesos ($ 105.88 mn) to expand the Corven Motors Argentina plant located in Venado Tuerto, province of Santa Fe. The objective is to move forward with a new assembly line for the production of Kawasaki motorcycles since the well-known models will begin to be manufactured in the country and will be on sale in 2021.