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External debt rose to $329.4 billion in August

The Government reported that as of August 31, the public sector debt as a whole, in pesos and foreign currency, amounted to the equivalent of $329.4 billion, $2.05 billion more than the previous month, as a result of placements and assistance from the Central Bank for $4.74 billion and payment of debt maturities for $2.69 billion. Total debt accumulated $16.12 billion in 9 months.

Steel production increased by 3.4%

The production of crude steel registered in August a 22.8% decline compared to the same month in 2019, with a volume of 336,000 tons; however, it marked an improvement of 3.4% compared to July. The accumulated production in the first eight months of the year reflected a 32.8% drop against the same period in 2019.

Bioceres increases sales by 46% and revenues by 17%

In the second quarter of the year, the company Bioceres increased its sales by 46% concerning the same period in 2019, reaching 51.9 million dollars. Likewise, its income registered an increase of 17% to $174.2 million for the fiscal year 2020 closed last June. The biotechnology company based in Rosario explained that the rise in income was driven by an increase in international sales of adjuvants, bio fungicides, inoculants and seed treatment packages.

4% average monthly inflation forecast for the rest of the year

Inflation rates averaged 2% per month between April and July due to measures taken by the government to contain price increases due to the pandemic. However, as the consulting firm Ecolatina warns, inflationary pressures will reappear in the coming months, and it projects an acceleration in the rise of the CPI, which would close the year just below 39%, with an average of 4% per month in the last four months.

Cost of cargo transportation rose 5.1% in August

Driven by the cost of personnel and the increase in diesel fuel, which make up more than two-thirds of the cost structure, the price of freight recorded a rise of 5.1% in August. Although it was the highest increase of the year, transportation costs accumulated a 32% increase in the last 12 months, a figure significantly below that shown in the accumulated 2019 (47%) and 2018 (61%).