The unanticipated resources associated with economic assistance due to the new restrictions by COVID 19 will total 480 billion pesos ($5.09 bn). The figure is equivalent to 1.3% of GDP, more than a third of what spent in all of 2021. The amount, moreover, is well above the first forecasts, both public and private.
In the last three years, the actual private salary fell 15%, but the purchasing power to buy meat contracted even more, by 17.8%. The value of the product showed a year-on-year increase of 65% in April. The national government's decision to suspend beef exports for 30 days is due to domestic prices.
Driven by increases in petroleum products and chemicals, wholesale prices rose 4.8% in April, and in the last 12 months, accumulated an increase of 61.3%. The gains were explained by a 5% rise in domestic products, accompanied by a 2.5% increase in imported products.
Economic activity increased by a substantial 11.4% year-on-year in March, while the accumulated in the first quarter generated a rise of 2.4%. The Monthly Estimator of Economic Activity (EMAE) recorded in March the first year-on-year rise since August 2019 and the largest since July 2010. It showed, however, a slight drop of 0.2% in the seasonally adjusted measurement concerning February.
The cost of construction accelerated to 6.4% in April and grew 4.2% in just one month. On the other hand, in the year-to-date figure, it already amounts to 17.7%, and at a year-on-year level, it recorded an increase of 55%.