The production of industrial SMEs in January registered the lowest decline in the last 20 months, with a 0.3% fall compared to the same period of 2019, the Argentine Confederation of Medium Enterprises (CAME) reported. Six of the eleven surveyed items fell and only one remained unchanged. The four sectors with annual growth were Food and beverages (0.2%), footwear and leather goods (1.9%), chemical products (11.9%) and textile and clothing products (2.3%).
The state-owned Banco Nación began offering loans for small and medium-sized businesses with a subsidised rate of 27.9% per year for its SME clients and 29.5% for those that are not. The Minister of Productive Development, Matías Kulfas said that the rate is subsidised at 12.1% and that AR $ 10 billion will be allocated for the "acquisition of raw materials, salary payments or other expenses of SMEs", which may request up to $ 5 million within 12 months.
Argentine tax withholding agency (AFIP) published in the Official Gazette, the regulation of the moratorium for SMEs and self-employed established in the so-called Law of Solidarity and Economic Reactivation approved in December. The moratorium will have an average of 42% on accumulated debts until the end of last year and a payment term of up to 10 years with incentives for those who enter as soon as possible.