price policy and Consumer Protection becomes Economy

With the transfer announced on May 20, the change of orbit of the Consumer Protection and Competition Defense areas, both dependent on Internal Trade, was also made official.

In this sense, now the Palacio de Hacienda will have the task of “coordinate and generate proposals on the development of mechanisms and systems for the protection of consumer rights”, in addition to “carrying out the proposal, execution and control of internal commercial policy” with regard to the defense of consumption and competition.

In this way, it will go on to supervise the actions of both the National Commission for the Defense of Competition and the Arbitration Courts for Consumer Protection.

In the same way, it may intervene in the markets of its competence “in cases in which its operation harms commercial loyalty, the well-being of users or users and of consumers or consumers and the normal development of the economy in accordance with the goals of national development.

Likewise, the Decree modifies the regulatory framework of the National Productive Development Fund (Fondep) with the objective of formalizing that it can grant direct long-term financing and Non-Reimbursable Contributions (ANR) to public banks, in addition to companies.

The NRAs, which will not be less than 30% of the Fund’s availability in each year, will be assigned 50% to Banco Nación and 50% to Banco de Inversión y Comercio Exterior (BICE).

The objective of this fund is to facilitate access to financing for projects that promote investment in strategic sectors for the economic and social development of the country.

The Fondep “has the possibility of serving with agility and effectiveness, with different instruments, sectors that, due to the economic situation or specific circumstances of the local or international economy, so require, including articulating with different actors in the economy, such as, for example, , financial entities”, states the Decree in its recitals.