A one-of-its-kind plan to tax the wind in Argentina has drawn scorn from clean-energy companies. Puerto Madryn, a city on the Atlantic coast where gusts are coveted by wind developers like Genneia SA, wants to tax the megawatts of energy sold by wind farms, according to the proposal. The tax could cost a 100-megawatt farm US$20 million, creating problems for existing projects whose investors won’t have factored in that kind of hit from left field, and halting the construction of new ones.
The Argentine Chamber of Mining Entrepreneurs (CAEM) reported that the country’s mining output fell by 70% y-o-y in 2020 due to the effects of the covid-19 pandemic. CAEM also said that small and medium-sized mining operations, which tend to be family-owned, saw a 40-50% fall in production.
The metallurgical sector warned that its inputs will increase by 45.4% in 2020. The Association of Metallurgical Industrialists said that non-ferrous items rose 47.6%, while ferrous items rose 43.2%.
A World Economic Forum report reveals that Argentina is among the countries with the lowest fiscal stimulus in relation to GDP, behind Mexico, Saudi Arabia, Russia and China. The study also found that Argentina was second only to Peru and Spain in terms of GDP decline and ranked sixth behind Belgium, Peru, Spain, Italy and the UK in terms of deaths per 100,000 inhabitants.
A report by Mercado Pago revealed that digital payments grew 307% in 2020 and that the supermarket sector was where this payment method increased the most. The report also stated that the use of QR codes increased by 217%.