Metallurgical industrialists want to return to exporting $7.5 billion a year, as they did a decade ago, lost due to the recurrent economic crises. Among the complications is to improve the so-called Tax Bonus Regime for Capital Goods, a benefit that most of the SMEs in the sector have to compete with the robust industry of São Paulo.
The price per square meter of real estate in the Autonomous City of Buenos Aires, calculated in dollars, fell 11% between January 2020 and May 2021. The value went from $2,256 per square meter to $1,958 this year.
Wheat exports to June of the 2020/21 season fell 30% year-on-year to 7.52 million tons. Dispatches were almost 3 million tons lower than those shipped on the same date last year, which meant the lowest tonnage since the 2015/16 cycle. Despite this, the improvement in international wheat prices provided substantial support to the value of exports in recent months.
The Balanz Group announced this Friday that it would open offices in Montevideo, Uruguay, to continue growing in the offer of investment strategies, in a first stage focused on developing the Wealth Management business, later venturing into institutional trading and capital markets. With 20 years of experience in the Argentine capital markets, the Group already has offices in Panama and the United Kingdom.
The dairy company Mastellone Hermanos S.A. informed that it successfully completed the exchange process of its Series F bonds for an amount of $200 million. The transaction involved using a combination of different financial instruments, including the issuance of a new international bond in the amount of almost $111 million.
The first half of the year closed with a record foreign currency inflow of $16.6 billion. The determining factor for the record liquidation of foreign currency from the countryside was the high international prices, particularly for soybean and corn, which showed increases of around 40% during the last eight months.
The government announced yesterday the launching of 54,175 new personal and mortgage loans through the federal programs Casa Propia and Procrear II. The investment of around 132 billion pesos ($1.38 bn) will create more than 116 thousand jobs.
To increase the productive capacities of a sector going through a period of high demand, the Government will launch a financing plan for the naval industry. It is a new credit line at a subsidized rate of 9,000 million pesos ($93.97 mn).
During the first half of the year, Argentina recorded a trade deficit with Brazil of $582 million. The data are from the Brazilian Ministry of Development, Industry and Foreign Trade. Although imports have shown greater dynamism than exports, the latter showed their highest growth in 25 years.
During April, economic activity contracted for the third consecutive month, registering a 1.2% decline compared to March in the seasonally adjusted measurement. The level of activity is still 3.1% below the pre-pandemic. The restrictions to avoid the second wave will also reflect in the May figure.