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 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%.
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 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.
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.
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.
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.
Beef in butcher's shops in the Buenos Aires Metropolitan Area rose 6.1% last month, despite the closing of exports to combat inflation.
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.
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.