Does the financing of more than 1,000 SMEs run?
It was about this point that criticism fell. “Article 10 of the project proposes the repeal of the SGR system, under the argument of its presumed fiscal cost. This measure omits to consider the purely overcoming performance of the system and its high impact in terms of access to credit, financial inclusion and revitalization of the national productive fabric“The societies said in a statement.
The document, published this Friday, highlighted a long list of benefits generated by the SGR system. Among them are the Financial support for more than 1,000 SMEsthe 510,000 jobs generated by the beneficiary companies and the US $ 1,500 million annual exports that make these firms.
The SGR explained that “the Argentine model is based on a Public-Private Articulation Schemein which contributions of risk capital of the private sector converge with state incentives and supervision, which allows to align profitability objectives, social impact and federal economic development. “
In that sense, they affirmed, “the State manages the SME credit efficiently,” since “With the 35% that ‘the State contributes’ to the system, SME credit is generated by 403% “. “SGR enhances productive financing, they are not an expense. The tax relief represents only 0.004% of GDP, “they deepened.
The other forms of financing of the 7.2% of the retirement assets, together with an increase in the minimum bond, are the following: Elimination of tax exemptions For business directors, reallocation of items of the Ex Side (today Federal Intelligence Agency), use of resources from automotive records, and savings estimated by the Low at the International Monetary Fund rate (IMF).
Source: Ambito
