Wholesale prices rose by 4.4% in December and by 35.4% in 2020, higher than in November (4.2%). This acceleration was mainly driven by agricultural products (7.2%) and hydrocarbons (8.6%).
According to government estimates, the measures implemented to contain the adverse effects of covid-19 were equivalent to 4.9% of GDP. It forced the national administration to seek financing and, although it bet on public debt placements in the local market, a large part came from the Central Bank's monetary assistance: the entity turned over 8.2% of the GDP to the Treasury.
The cost of construction increased by 3.4% during December and accumulated a 42.3% rise over the whole of 2020. According to the INDEC, the variation in the last month of last year resulted from a 6.2% increase in Materials, 0.8% in Labour and 3.2% in General Expenses.
Satellogic, a young Argentine technology-oriented aerospace business, closed a deal with Elon Musk's Space X to put four nanosatellites into orbit on a Falcon 9 starting in June. The aim is to build a constellation of 300 satellites, all of them manufactured by the company. The company was created in 2010 and has already received $120 million investments and is shaping up to be a unicorn. To date, it has launched 21 low-cost nanosatellites and plans to triple that number by 2023.
The Revenue Agency of the Province of Buenos Aires (ARBA) implemented the exemption of up to 50% in the Gross Income Tax payment to favour the taxpayers who were most affected by the pandemic. The resolution covers operations accrued between July 1 and December 31, 2020, and extends to a set of 206 economic activities.