Massa announced changes in subsidies, increase to retirees, brake on emission and audited social plans

Fiscal order, surplus, reserves and development with inclusion were the four points in which the head of Economy, Productive Development and Agriculture summarized his plan.

After this introduction Massa detailed each of the essential points of the new measures

tax order

  • The goal of 2.5% deficit will be met established by the budget.
  • No Treasury Advances will be used for the remainder of the year.
  • rules the state plant freeze for all sectors of the centralized national public administration.
  • Subsidies: 4 million Argentine households gave up using the subsidies. Among the almost 10 million households that did request the subsidy, consumption savings will be promoted. “We cannot continue with a scheme in which whoever spends the most receives the most subsidy,” she assured when defending the measure.

trade surplus

  • They will be promoted by DNU regimes for the sectors of agribusiness, mining, hydrocarbons due to increased production and knowledge economy.
  • Cases of underinvoicing will be reported to the Argentine justice system and the United States anti-money laundering unit of exports and overinvoicing of imports.
  • will launch a credit program at promotional rates, and a guarantee scheme for first exporters. “We want to sell more Argentine work to the world,” said Massa.
  • In addition, there will be a foreign trade traceability system for greater control and transparency in the use of foreign exchange for imports.

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Sergio Massa in his first public appearance as superminister.

Strengthening of reserves

  • export advance, with the value chains of fishing, agriculture, mining and others, which will enter in the next 60 days for a total of US$5,000 million, which will go on to swell the reserves of the BCRA.
  • Disbursement of US$1.2 billion with international organizations for current programs. New program with CAF with an additional disbursement of US$750 million.
  • Four Repo offers to strengthen reserves and repurchase sovereign debt. Three from international financial institutions and a sovereign fund. These are loans with public securities as collateral and an interest rate against repurchase.

development and inclusion

  • Retirements: August 10 announces the retirement mobility index with a boost to help retirees overcome the damage caused by inflation.
  • Worked: will be convened on Thursday of next week at business entities and workers in order to ensure a mechanism that allows recovering income in private sector workers, which includes the improvement of family allowances. A bonus is being studied for workers who earn between 100,000 and 150,000 pesos.
  • plans: policy will be carried out reordering of social plans for the next 12 monthsfocusing on 3 axes: return to the labor market, strengthening of cooperatives and protection in situations of vulnerability.
  • On August 15, an audit to be carried out by the universities begins. Who does not comply, will receive the suspension of the plan. In parallel, the liquidation will be crossed with the Anses databases. Our idea of ​​a country is that the plan is the emergency, and the work is permanent.
  • Argentine Credit: The credit programs will be unified into a single line, called Argentine Credit, where all credit promotion policies for the productive sectors, SMEs and commerce will converge, a program for a total of $400 billion

When he finished giving the general guidelines, Massa did what he called final considerations with the following points:

  • “We are going to tender the second section of the Nestor Kirchner gas pipeline”
  • “We are launching a program to train 70,000 new programmers in the next 12 months”
  • “We will launch a voluntary swap for maturities in pesos in the next 90 days, which will end on Tuesday, for which we already have adherence commitments of more than 60%.”
  • Two calls: “To Congress, to request the rapid treatment of the laws that benefit Construction, Bio/Nanotechnology, agribusiness and the automotive industry in tax terms. Because they are great generators of employment and growth. And to the Liaison Table, to sit down and work together for the development of this powerful sector made up of Argentine producers”.

note in process

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