The industry's installed capacity utilization was 63.3% in November, 2.6 percentage points higher than the 60.7% of the same month in 2019 and almost 3 points higher than last February, before the pandemic. In this way, the use of installed capacity measured by the INDEC in November marked its best result in the previous two years.
The government has submitted a bill to Congress to maintain the corporate income tax rate at 30% for this year and postpone until 2022 the timetable for reducing it to 25% as provided in the 2017 Tax Reform. The reduction was suspended for the whole of last year and reinstated on 1 January.
Moody's Local Argentina forecasts an impairment of bank assets subject to credit risk during the first quarters of 2021, in line with the completion of this measure and the subsidies in soft loans guaranteed by the government, which at December 2020 totalled more than 766 billion pesos ($8.95 bn).
BBVA issued the first green bond of Petroquímica Comodoro Rivadavia (PCR) for a total issue of $50 mn. The project is qualified as "green" for contributing to ODS 7 (Affordable and Non-Polluting Energy) and ODS 13 (Climate Action). The qualification based on funds linked to renewable energy projects for implementing the San Jorge and El Mataco wind farm, related to the renewable energy sector, with clear environmental benefits.
The international price of maize is $206.5 per ton, the highest in almost eight years. The sharp cut in the US production estimate and growing Chinese demand pushed up prices. The yellow grain entered the public arena in these 15 days due to the government's suspension of exports until March, an issue that triggered a marketing halt by three of the four entities of the Mesa de Enlace and a strike, so the measure was left without effect yesterday by the same government.