As of 1 March, the stabilised energy price will increase by 90%. It will go from 2,910 pesos ($32.53) to 5,500 pesos ($61.49) per megawatt per hour for non-residential users who consume more than 300 kW power. The final impact will be, on average, 50%, but in some cases, it will reach 70%.
The price of soybeans jumped more than u$s8 in the Chicago market, driven by robust Chinese demand, closing the day at $516.62 per ton, in a round in which cereals also traded with increases.
Exports by mining companies operating in Argentina totalled $2.6 billion last year, representing a 19% drop compared to 2019 figures. However, in December, they showed a recovery of $304 million, up 7% year-on-year.
Sales of electrical appliances and household goods grew by 66.8% year-on-year in the fourth quarter of the previous year. Turnover at current prices, incorporating the impact of price increases, totalled 67,992.6 million pesos ($760 mn) in the fourth quarter.
The software industry generates more than 125,000 jobs in Argentina. The government's goal is to end the decade with around 500,000 people from all over the country, within the regime's framework for the promotion of knowledge economy activities.
The National Public Sector (NPS) recorded a primary surplus of 24.07 billion pesos ($269.19 mn) in January. Meanwhile, interest payments on public debt, net of intra-public sector payments, amounted to 27.10 billion pesos ($303.07 mn), so the NPS financial result was a deficit of 3.03 billion pesos ($33.88 mn).
A report by JP Morgan, entitled "Argentina: the monetary policy labyrinth", notes that the BCRA's net or freely available reserves, which do not include loans and private deposits, are close to $3 trillion, including gold holdings. The BCRA would find it challenging to dispose today of the $2.4 billion needed to cancel a payment with the Paris Club at the end of May; moreover, renegotiating the Paris Club's maturity requires having signed the extended facilities agreement with the IMF, due to statutory issues.
Santa Fe-based Valenziana, a manufacturer of home furnishings, will start exporting to Paraguay and Uruguay for the first time with the opening of new exclusive stores in neighbouring countries and will open 20 of its stores throughout the country. The firm's decision is part of a master plan that began six years ago and involves an investment of $4 million until 2025.
According to official statistics, 47 per cent of the population - 21 million people - are poor because they live in precarious, overcrowded conditions, have problems with school attendance, precarious employment or access to health care. The most affected are children: 55 per cent of children under the age of 18 in Argentina live in this condition.
According to data from the Rosario Stock Exchange, the gross value of soybean and corn crops could exceed $25.3 billion due to improvements in production and high prices. The jump compared to 2020 would be $6.68 billion. The rains in recent weeks led to an increase in the exportable balance and improved producer margins.