Tax collection in January reached Ar$772.86 billion ($8.81 billion), representing a year-on-year growth of 46.6%, the Ministry of Economy reported. Export duties rose 231.2% to just over Ar$79.4 billion ($905.40 million), due to an improvement in international grain and oilseed prices and a 12-month rise in the exchange rate.
Industrial activity in January rebounded sharply compared to the same month last year. According to sources at the Ministry of Productive Development, growth was around 10%, although final figures will be available in the course of February. In the last week of last month, activity was growing by between 7% and 12% in different branches of industry.
Argentine state energy giant YPF further improved its $6.2 billion debt restructuring offer to creditors and pushed back the deadline for accepting it, raising expectations that a deal could be clinched. The firm, which spearheads development of the South American nation's huge Vaca Muerta shale fields, said that it would amend the balance between cash and new securities in the offer to give creditors a larger cash payout.
Argentina’s government has extended the closure of its borders, extending a decree that prohibits non-resident foreigners from entering the country until the end of this month without special dispensation. The decree prohibits entry through ports, airports and land border crossings, extending existing measures put in place to tackle the spread of COVID-19 in Argentina.
Argentina's farm exports rose 32.63% year-on-year in January after strikes and standoffs with unions had snarled shipments at the end of last year before agreements were struck, the CIARA-CEC chamber of crushers and exporters said. CIARA-CED added that $2.14 billion of trade was settled in the first month of the year, a rise of 26.6% compared with December.