The Argentine government Monday launched a training program for young people, aiming to give them equal access to jobs in the software and related sectors. The program plans to train 60,000 young people by the end of the year. Various industries of the knowledge economy, such as software and computer systems, video games, audiovisual production and post-production, directly and indirectly employ 450,000 people and have the potential to create another 100,000 jobs, said the Government.
Category: Public Policy
Information related to political affairs that have an impact on Argentina’s economic development.
Argentina adds new rules to curb COD delays for contracted renewables
The Argentine government has introduced a resolution to accommodate to some extent those renewable energy developers who had been late with reaching commercial operation date (COD) of their auction awarded projects. Argentina awarded PPAs to some 4.5 GW of renewable energy projects through its RenovAr auction programme and over 200 MW via the so-called MiniRen round for small-scale schemes, but the process to get the plants up and running has been exacerbated by the country's prolonged economic crisis and the pandemic.
Metallurgical companies want to export some $7.5 billion a year.
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 government provided more than $1.05 billion in assistance and financing to SMEs
The government disbursed 2020 more than 100 billion pesos ($1.05 bn) in assistance and financing to SMEs. They represent 26 times more than the 3.8 billion pesos ($39.77 mn) earmarked for the sector in 2018 and far exceeds the 3.5 billion pesos ($36.63 mn) executed in 2019 i.e., it is an increase of 2,757%.
Government to start construction of more than 100,000 housing units in 2020
The government is targeting construction to reactivate the economy. More than 110 thousand housing units will enter the execution stage in 2021. The estimated investment until 2023 is 890 billion pesos ($9.31 bn).
The government designed a new gas pipeline system that will save $1.15 bn per year
The national government designed a new gas pipeline system that will save $1.15 billion per year by substituting imports, resulting in annual fiscal savings of almost $600 million. The pipeline system intends to replace all LNG imports, replace declining Bolivian production and supply natural gas to all thermal power plants to replace domestic liquid fuels.
Due to tax pressure, the State retains almost 62% of agricultural income
The June report of the Fundación Agropecuaria para el Desarrollo de Argentina (FADA) showed that in the last quarter, 61.8% of the income produced by the farm retained by the State through the collection of taxes. The main component of these taxes is export duties, which added the tax on bank credits and debits.
Government boosts the economy: will inject $525 million
The changes in the Income Tax of the fourth category that will be in force as from July will imply an additional disposable income for workers of 50 billion pesos ($525 mn). The data, released by AFIP, consider what will stop withholding income tax to 1.2 million people during the second half of 2021 and what will return it to them in five instalments of everything withheld from January until today. The Government expects to release 8 billion pesos ($84 mn) to the economy in July.
IDB to lend $200 mn to Argentina for sanitation works
The Inter-American Development Bank (IDB) approved a $200 million loan to finance a drinking water and sanitation program to benefit some 184,000 households "with new and improved connections to these basic services in towns with less than 50,000 inhabitants". The Argentine government will provide the remaining $50 million to carry out the project.
The price of beef increased by 6.1%
Beef in butcher's shops in the Buenos Aires Metropolitan Area rose 6.1% last month, despite the closing of exports to combat inflation.
