Inflation reached 36.1% in 2020

In December, inflation was 4%, the highest in the whole of 2020, so it closed last year with a rise in retail prices of 36.1%, 18 percentage points below the 2019 figure. The accumulated rate of inflation is in double digits for 16 consecutive years and is the ninth year in which it has exceeded 25% annually. Because there are still underlying pressures, inflation in 2021 could exceed 45%.

70% of the value of an imported luxury car is tax

According to its characteristics and range, an imported vehicle is today subject to a tax pressure ranging from 96% to 209% on the value arriving at the port. On average, the tax burden ratio to the value of the vehicle is approximately 70% of the final value of the 0km and places it among the most expensive in the world. For national cars, the impact of the tax burden is around 54%.

YPF and Equinor partner with Shell for offshore exploration

YPF and Equinor agreed on Shell's entry as a third partner of the offshore block CAN100, located in the Northern Basin of the Argentine Sea. After this operation, Equinor (operator of the area) and YPF will divide 70% of the block into equal parts, and Shell will enter with the remaining 30%. The block locates in water more than 1,500 metres deep that has never been explored or drilled in the country before.

The government raised $659 mn in the first financial auction of the year

The government placed three bills and a Treasury bond yesterday and managed to capture about 56.433 billion pesos ($659 mn) of cash value awarded from the market. The first auction of the year obtained net financing of 32.136 billion pesos ($375 million). Most of the demand concentrated on the two shorter-term bills, which mature in March 2021.