During April, industrial production in SMEs continued on a path of tenuous recovery, although it is still below pre-pandemic levels: a 76.9% growth compared to the same month last year when there was a 53.1% drop due to the effect of the pandemic. Compared to 2019, there was a contraction of 17.1%.
With the support of BICE (Banco de Inversión y Comercio Exterior), the agricultural company Ingacot, dedicated to the breeding and reproduction of pigs, is investing more than 100 million pesos ($1.06 mn) in expanding the production capacity of its farm located in the town of Bolívar, Buenos Aires.
In 2020, digital payments grew throughout the region due to the isolation measures by Covid 19. According to the Argentine Fintech Chamber, e-commerce platforms, virtual wallets, and online tools increased by 60%.
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.
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%.
The cement company Holcim inaugurated Wednesday a new cement production line at its plant in Malagueño, Córdoba. The group invested $120 million in the project of an integral line that included a new kiln and a new generation vertical mill following world standards on the impact on the environment. It will increase capacity by 512 thousand tons during the year, representing 45% more than at present.
With more than 2 million active users, Bitso is the largest cryptocurrency platform in Latin America and the first to be regulated in the region. In recent weeks, in the heat of the digital asset boom, the company raised $250 million and reached a valuation of $2.2 billion, making it the third most valuable fintech and platform in Latin America.
Productive activity, measured based on energy consumption, grew 6% in April compared to the same month of 2019. However, the advance index of industrial activity contracted 2.9% on a monthly seasonally adjusted basis concerning March.
Banks assisted more than 98,000 MSMEs for a total of 411,678 million pesos ($4.38 billion) in the first six months of the program. The loans granted represent 8.7% of private sector deposits in pesos. The total amount disbursed by banks is equivalent to more than 15% of the monetary base, according to information from the Argentine Banks Association (ADEBA).
The industry's installed capacity utilization reached 64.5% in March, which marks the highest level since November 2018. Compared to March last year, the indicator showed an improvement of 12.9%, although the activity was closed due to restrictions by covid-19. Compared to March 2019, there was an improvement of 5.7%. Installed capacity also grew 6.2% concerning last February.