One year after the coronavirus pandemic outbreak, Argentines are already in the habit of using their money digitally through the multiple channel options made available by the financial system. The use of electronic money increased 43% in the number of transactions adjusted for inflation, while the use of all channels as a whole increased by 9.1% compared to a year earlier.
Industrial production recorded a 1.6% increase in February compared to the same period in 2020 and completed a positive streak of four consecutive months. The manufacturing sector is already operating 3% above pre-pandemic levels.
The recovery in construction continued at a steady pace in February, when it recorded its third consecutive increase of over 20% year-on-year. The Synthetic Indicator of Construction Activity (ISAC) increased 22.7% year-on-year, according to the INDEC, thus registering its fourth consecutive increase after twenty-six months of decline.
The results at harvest are below expected yields and even below historical averages. The production projection was adjusted to 43 million tons, one million tons less than the last publication and two million tons less than expected. Compared to the previous season, the decline is even more pronounced. In the 2019/20 cycle, Argentina produced 49 million tons, 12% more.
Statistics support the feeling that more and more taxes are paid in Argentina. Tax pressure (the percentage of tax collection over GDP), rose from 28.8% in 2019 to 32% in 2020, according to official data that take into account the Nation, provinces and municipalities.