Preliminary statistics on Central Government debt showed a new increase in financial commitments, to $341.17 billion. In addition, $338.56 billion are regular payment, $106 million are deferred payment, and $2.5 billion are eligible for restructuring. The debt increased in May by $1.23 billion due to the growth of net credit taken to finance the public finance deficit; and $1.42 billion due to adjustments and exchange differences.
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.
Encouraged by the international prices, Argentine producers sell corn of the 2020/21 season, which is currently in the harvest stage. Official data show that producers sold already 29.7 million tons in the first week of June, translating into 59% of the estimated 50 million tons of the campaign. According to agro-exporting companies, the sector liquidated a little over $13.5 billion in the first five months of the year.
The Arcor Group announced an investment of 20 million dollars to start a new packaging plant in Misiones. The facility, which will have an annual production capacity of 80 million multiwall bags, will start operations in the first quarter of 2022 and respond to the new requirements and the evolution of the construction, food, chemical and seed markets.
The chemical and petrochemical industry continues to show signs of greater dynamism in 2021. According to a report prepared by the sector's chamber, activity grew 8% in May concerning April and 5% for March.
Argentina is one of the 35 countries worldwide where the vaccine to combat the coronavirus is manufactured, together with Brazil and Mexico. In the AstraZeneca vaccine, the active ingredient part produced in the MAbxience laboratory, where 90 million doses have been made and expect to reach 180 million this year. Sputnik V's fractionation and packaging part carry out since last week at the MR Pharma laboratory, where they hope to produce 5 million doses per month. On the other hand, negotiations are progressing to make the Chinese vaccine Sinopharm at Sinergium Biotech part of the Insud Group.
In only five months and with the pandemic far from its end, government spending on the coronavirus increased 309%. By May, the government spent 125.43 billion pesos ($1.31 billion) on covid, which leaves almost 70% remaining of the budget and credits to face the pandemic. Source: Ámbito
The fertilizer company Profertil completed the placement of its first debentures for a total amount of $25 million. The issue was made through the dollar link instrument, at a rate of 2.49%, with a maturity of 24 months. Molinos Agro followed the same path, which weeks ago placed debentures for a total of $53.8 million. Morixe made its first issue of debentures for $4.2 million on the local stock exchange in June. The seed company Asociados Don Mario will launch its Series VI for up to $8 million.
Cresud, one of the largest agricultural companies in the country, launched an exchange of debentures for $35.7 million that are part of an issue maturing next July 11 for a total of $59.5 million. The transaction opened last Friday, and the deadline to enter will be Monday, 28th of this month.
The BASF group of chemical companies recorded a 50% increase in users of its online sales platform for inputs for small and medium-sized companies in Argentina and other Southern Cone countries. The online sales platform is the first of its kind in the chemical sector and had a 50% growth in registered customers between 2019 and 2020.