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New economic measures: electricity, gas and transport will no longer increase in the remainder of the year

Responsible for the press conference Source: LA NACION – Credit: Ricardo Pristupluk

The government has announced "economic and social measures" to "overcome" inflation and "protect the Argentines" with the aim of restoring spending, which in the last month recorded a fall of 8.7%.

According to the government's description, the measures are the result of "agreeing with the leading companies to maintain the prices of 60 basic products for at least six months and that no new public service price increases are available this year". In this way, the control of prices will continue until October 22, five days before the presidential election.

In addition, the government will launch a "new round" of loans from Anses, a "new call" from the Procrear plan and the "new discount network" from Anses.

Public service rates

Electricity, gas and transport

  • In the rest of the year, the government will no longer have an increase in prices of electricity, gas and public transport for domestic users. Two electricity increases, which were announced for the remainder of 2019, "will be taken over by the nation-state."
  • The increase in gas that has been in use since April and took place in three months (10% in April, 9% in May and 8% in June) will be the last year. In winter, the price of gas that users will pay on the summer months accounts (which are the lowest consumption) will be 22% off. According to the government, this will "allow" the equalization of "the final law during the winter and summer months." The costs of postponing these payments will be borne by the state.
  • In the rest of the year, the number of buses and city trains will not increase. There will also be no increase in tolls depending on the national government.

Mobile phone

  • Mobile operators will maintain the price of prepaid lines for five months, until September 15th. The action uses 35 million active lines.

Prices and consumption

Arrangement on prices for essential products

  • Their prices will keep at least six months of 60 basic products from the baskets of 16 first-class companies. (Oils, rice, flour, noodles, milk, yoghurt, yerba, infusions, sugar, cans, polenta, biscuits, marmalades and beverages).
  • According to the government, prices are "on average or below the current average of each category".
  • Companies must ensure the availability of products in a gondola at 2,500 points of sale that stick throughout the country. They will be available from Monday, April 22.
  • The Ministry of Internal Trade and consumer associations will monitor compliance with the agreement.

Pieces of meat at affordable prices

  • Export refrigerators have agreed to sell 120,000 kilograms per week of baked, vacuum and matamis to 149 pesos per kilogram (final price) at the Central Market Trade Fair and at the outlets of each refrigerator.
  • Reductions at these prices will be available "at the end of the new system" in about 10 or 15 days.

Benefits and loans Anses

  • The introduction of an advantage Anses, a network of discounts between 10% and 25% for 18 million people receiving benefits from Anses in supermarkets, clothing, lighting, travel and tourism, appliances, home appliances and materials construction Discounts will be achieved by pensioners and pensioners who hold unremitting pensions (the vast majority due to disability), Universal retirement pensions for the elderly, holders of universal child support, recipients of unemployment benefits, family allowances. Beneficiaries can access discounts with their debit cards linked to Anses.
  • New offer of Anses loans available to pensioners, beneficiaries of pensions without contributions, universal allocation of child and family allowances. (About 18 million people). The investment foreseen for this round of loans is 124,000 million pesos.
  • Those who already have a loan can accept a new loan and refinance the previous loan. In any case, the value of the fee may not exceed 30% of the monthly payment.
  • The sums for pensioners are doubled: they can take loans up to 200,000 pesos, which have to be repaid in 24, 36, 48 or 60 installments.
  • Beneficiaries of income for children and family members may require credits of up to 12,000 pesos per child in 24 or 36 installments. Those who receive a non-contributory pension (PNC) or a universal old-age pension (PUAM) can claim up to 70,000 pesos in 24, 36, 48 or 60 installments.

Law on Commercial Loyalty

  • The government is planning a regulation with a new regime of commercial loyalty in order to "avoid abuse of a dominant position or possible monopoly behavior of large companies".
  • The Internal Trade Secretariat will have more powers to sanction unfair or anti-competitive behavior, and to protect consumers, small businesses and small and medium-sized enterprises.

Social benefits

Discount up to 70% for medicines for AUH beneficiaries

  • Universal Aid beneficiaries (AUH), We make future, complementary productive projects and the More Life program in the province of Buenos Aires and their family group will have access to discounts between 20% and 70% for medicines in one network of 5000 pharmacies distributed all over the country. (This is about five million beneficiaries).

Loans for gas connections

  • Loans for the connection to natural gas will be extended to approximately 70,000 households that still use gas cylinders (despite living in a gas network). Those who will access the program will have 60 fixed meals of 489 pesos. "The loan is paid together with the bill, and households automatically receive a rate of social gas for six months," the government explained.

New call in Procrear

  • Notification of the new Prokrear plan for 10,000 beneficiaries. They must contribute part of the value of the house (10% of the price) and the national state will contribute 20% with a grant. The average subsidy will be 550,000 pesos.
  • In addition, the government announced that it plans "alternatives to mitigate the situation of those who currently have mortgage loans in UVA and notice a significant increase in quotas".

Support for SMEs

Payment plan AFIP

  • AFIP will introduce a new payment plan to regulate the tax debts of all taxpayers at a lower level than previous plans and longer-term to cancel them. It will include the debts of major taxes (such as VAT, profits and personal assets) that fall due on January 31, including deductions and tax payments.
  • The new plan can accommodate up to 60 meals. The maximum interest rate for SMEs will be 2.5% per month, "lower than in previous plans and well below market rates." according to the government.

Better business conditions

  • The period during which traders receive money from credit card sales is reduced to 10 business days. (Credit cards pay for any sale within 19 working days of the operation).
  • In addition, banks will not charge more commissions (today between 1% and 2%) of SMEs to receive cash. This situation was not regulated by the BCRA, which will now determine the regulation and ban the commission.

Minor retention for export SMEs

  • Export rights (deductions) are excluded for all those companies that export above the average of last year's exports. The measure applies only to exporters that are less than $ 50 million a year.

Official document

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