The BCRA enabled banks to migrate the portion of reserve requirements integrated into Leliq (Liquidity Bill) to Treasury debt securities from June. Although the potential stock exceeds 700 billion pesos ($7.4 bn), a report estimated that the government could obtain an additional 90 billion pesos ($951.78 mn) by this means as it is a voluntary measure.
The loss of purchasing power of salaries is not a novelty: an employee belonging to the informal sector, in the last three years, lost the equivalent of 7 wages, while if he/she belongs to the formal sector of the economy, he/she had to give up three salaries. Public employees lost 4.5 salaries. Devaluation in Argentina has an impact on prices, and this affects real wages.
The BCRA started to transfer profits to the Treasury: 50,000 million pesos ($528.76 mn). The quasi-fiscal deficit has expanded hand in hand with the growing stock of Leliqs and Pases. These are profits, and the BCRA is legally authorized to transfer them to the Treasury.
Ledesma is investing $25 million in an agricultural plan to grow in competitiveness through innovation in its field management. $15 million invested for this harvest.
Gross investment grew 58.2% year-on-year in April to $5.43 billion, accumulating an expansion of 27.8% in the first four months of the year. Compared to April 2019, productive investment decreased 0.7%.
Last month, Bierhaus, the Argentine craft beer brand, landed in Spain, with a sales projection of more than 30,000 litres for this year. Rabieta informed that it had extended its export agreement to China: it will send six new containers with more than 250,000 bottles in its new 355cc container exclusively for the Asian country.
With data as of April 30, the Line of Financing for Productive Investment (LFIP) accumulated disbursements totalling 513,321 million pesos ($5.4 billion), which implied an average monthly nominal growth of 32.4% so far this year. Approximately 80% of the funds disbursed to finance working capital, while the remaining 20% to finance investment projects.
The Energy Secretariat authorized Liuco Energía, Geneia, MM Bioenergía and PAH EPEC Cruz del Eje to generate agents in the Wholesale Electricity Market (MEM).
With the update, as from June, of the taxable base on which 0 km vehicles will start paying the luxury tax, more than 30 models will have, as from next Tuesday, an increase of up to 14% in their prices.
So far this year, the fiscal deficit has increased by 59,761 million pesos($632.39 mn) concerning the initial guidelines established in the Budget Law, as a result of the application of three spending increases by the Government. The increase in the deficit is 4.1% concerning the financial outcome and 7.5% if it takes the primary balance, which, unlike the former, does not include public debt servicing.