“It is not the same to use 400 kilowatts in the Federal Capital and Greater Buenos Aires, than in the northeast of the country, where they cook with electricity,” the sources said. The head of the Palacio de Hacienda had stated during his first presentation that “the almost 4 million households that did not request subsidies in the rate segmentation “will be the first cut” and will stop receiving the benefitand announced that a scheme will be implemented to promote savings in energy consumption.
On Tuesday, August 10, the retirement mobility index will be announced with a reinforcement “to help retirees overcome the damage caused by inflation,” Massa anticipated in his first press conference as Minister last Tuesday. In this framework, he met last week with the head of ANSES, Fernanda Raverta, but the meetings will continue this week.
Retirements must be adjusted in equal proportions to the result of the interannual salary variation of the second quarter of this year (the one that best results between the Indec and Ripte index) and by the collection of Anses.
As of September 1, 18 million beneficiaries of the pension system, also including holders of Family Allowances, Universal Child Allowance, Universal Pregnancy Allowance, single payment allowance, non-contributory pensions and the Universal Benefit for Older Adults, will receive an increase that, according to the estimate made by CEPA, would have a floor of 15.43 percent. To that percentage will be added the reinforcement that Raverta and Massa are working on.
Meeting with businessmen and CGT
According to the minister’s announcement, on Thursday of this week there will be a meeting with business entities and workers in order to ensure a mechanism that allows workers in the private sector to recover their income, including improvements in family allowances.
As anticipated by the CGT, it will not accompany the proposal for a fixed sum, but Massa has already told them that it would be an emergency “anti-inflationary” bond, that would be applied as a one-time bonus, but that, in any case, would be discussed with the CGT and the Argentine Industrial Union (UIA).
Inflation and pricing policy
This Thursday when Serge Massa just over a week after taking office as Minister of Economy, one of the data that most worries the Government will be officially known. INDEC will disseminate the Consumer Price Index (CPI) for July and the forecasts of private consultants are not at all encouraging: some projections estimate a inflation of 8%which would be the highest number for their surveys since April 2002.
The estimates, however, range between 6.8% and 8%. In any case, it is expected to be the highest data of the year, exceeding 6.7% in March and accelerating considerably from 5.3% in June. The restrictions on imports, added to the instability of alternative dollars and the seasonal component generated by the winter holidays, are some of the factors used by analysts to explain this jump in prices.
With this complex panorama, the designated Secretary of Commerce, Matías Tombolini, anticipated today that as of “next week” his portfolio will begin to hold meetings with the “main actors of the price formation chain”, in view of a relaunch of the Care Prices program within the next “45 to 60 days”.
“We are going to start meeting next week with the different business associations, supermarkets, local mouths, users and consumers and, obviously, the main actors in the price formation chain,” Tombolini said in radio statements.
One of the objectives of the meetings, according to the new secretary, will be “to recover prices as a unit of useful information when making decisions”, since “today Argentina is going through a moment where prices are no longer a everyday reference.
Meeting with the UIA
Production Secretary, José De Mendiguren will visit the UIA next tuesday in what will be his first meeting as an official. From the entity they will transmit their concern about the problems of access to dollars to import and their impact on activity, the cost of energy and inflation. The industrialists were satisfied with the first announcements of the Minister of Economy, Sergio Massa, regarding the accumulation of reserves, fiscal and monetary order. The Government is targeting “speculative” maneuvers in international trade for at least US$1.25 billion.
De Mendiguren’s meeting with the executive committee, of which he is also a textile member, and the UIA Board of Directors will be the first formal contact with businessmen. The new Secretary of Production knows that his management should focus on the problems of access to the dollar to import supplies and also in the increase in international prices that impact the costs of companies and inflation.
debt tender
Massa will have his first test before the market this Thursday the 11th when more than $400,000 million in Treasury bills mature, out of a total of $575 million in the eighth month of 2022. The tender will be held on Thursday 11, coinciding with the release of the official inflation data for Julya number that in the midst of economic uncertainty and exchange rate tension.
Source: Ambito
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