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.

Extrugreen cereal company suspended for failure to settle operations for $70 mn

The Central Bank of Argentina (BCRA) suspended today the operations in the foreign exchange market of the cereal company Extrugreen S.A. for accumulating defaults in the liquidation of foreign currency in goods export operations for an amount of almost $70 million. Thus, the company will only access the Mercado Único y Libre de Cambios (MULC) to settle pending exports until it regularizes its situation.

ENACOM will allocate close to $3.48 million to improve and expand connectivity

The National Communications Agency (ENACOM) moved forward on Monday with a series of measures to expand and develop connectivity in several areas of our country. It will carry out the plan with an allocation of 329,009,656 pesos ($3.48 mn) from the Universal Service Trust Fund. The objective will be to guarantee access to quality networks.

Government adds $580 million investment for gas production

The Energy Secretariat announced that the amount destined to improve gas production would be u$s 580 million. Banco Nación has already transferred more than 36,400 million pesos ($384 million) to the account opened for this purpose. The funds come from the 25% that the extraordinary contribution to the great fortunes had foreseen for this purpose. The Energy Secretariat works together with YPF and IEASA.

YPF Luz reached 175 MW in Los Teros wind farm

YPF Luz's Los Teros Wind Farm, located 45 kilometres from the town of Azul in Buenos Aires, added 52 megawatts and reached 175 megawatts of installed power, equivalent to the electricity needed to supply 215,000 homes. The wind farm has 45 wind turbines installed on a total surface of 3,610 hectares, can produce 838 GWh per year and required an investment of $235 million. This renewable, efficient and sustainable energy source will avoid the emission of more than 400,000 tons of carbon dioxide.