Cap on monetary issuance: the Central Bank will be able to transfer up to 3.5% of GDP to the Treasury by 2021

The Central Bank published its 2020 annual balance sheet. According to its financial statements, the year ended with a profit of 522,558 million pesos ($5.57 bn). According to current regulations, that will be the profit ceiling it may transfer to the Treasury throughout this year. It is equivalent to 3.5% of the GDP, less than half of what was implied by the record issuance in 2020.

Hot Sale: More than $3.2 million in sales in one day

The average discount of the products and services offered in the Hot Sale 2021 reaches 32%, according to a survey carried out by the team of inspectors from the University of Buenos Aires (UBA) in charge of the comparison of the different offers. Likewise, the Tiendanube platform registered more than 300 million pesos ($3.2 mn) in sales.

Textile production recorded a 22% increase in the first quarter of the year

Textile production recorded a 22% increase during the first quarter of 2021 compared to 2020. The reasons behind the rise were the Government's tariff protection and the shortage of foreign currency for imports. The sector's data is above pre-pandemic levels. Textile and apparel exports totalled $72.6 million in the first quarter of 2021 and showed a substantial recovery of 18.2%, compared to the same period of 2020, mainly due to external sales of wool fibres and fabrics.