The oil company YPF reported that from the early hours of the morning, the biofuel component in naphtha and diesel would be adjusted by 2.9% in the whole country. It is a consequence of the increase in ethanol as mandated by the regulatory authority.
The state oil company YPF will put its Tower up for sale, a real flagship of Puerto Madero and the company's headquarters since 2008. The decision is part of the oil company's strategy to concentrate its resources in the core of the business, that is, the production of energy. A quick calculation for this operation could yield a figure close to $ 400 million. It seeks to mitigate with additional income a challenging period for the company, which recorded losses of $1.64 billion in the third quarter.
The trade balance with Brazil showed a deficit of $700 million in 2020. A 26.1% collapse explained the deterioration in trade with the neighbouring country in exports, severely affected by a pandemic that hit the Brazilian economy and industry hard. As a result, Argentina's share of Brazil's imports in 2020 was the lowest since 2000, falling from six per cent to less than five per cent.
Tax revenues grew by 38% year-on-year in December and accumulated a 32.1% increase over the year. According to forecasts, revenue in 2020 was below the annual inflation rate of around 36%.
Inflation accelerated to 3.6% in December according to estimates by the consulting firm Orlando Ferreres. Prices accumulated a rise of 33.6% in 2020. Core inflation (which does not consider either seasonal effects or government-regulated costs) advanced at a monthly rate of 3.8%, marking an annual increase of 35.7%. The principal increases were in health and transport. Food prices rose by 4.2% and accounted for most inflation in the last month of the year.