“With the current system, the retiree loses much more,” given that they perceive the inflationary adjustment with a delay of 3 months. Meanwhile, they are studying mechanisms “so that pensions do not lose purchasing power.”
In official sources it is recognized that “It’s complex.” define a new adjustment system, but they point out that in the meantime they are evaluating alternatives so that the deterioration of the income of the passive class is not accentuated. About, One possibility could be to adjust these assets based on past inflation and on a monthly basis.to avoid further deterioration.
About, Sources from the Ministry of Economy evaluate that during the coming months inflation will continue at high levels, given that a process of rearrangement of relative prices is taking place. The latest estimates from private consultants anticipate that the consumer price index would register an increase of around 25 to 30% in the current month. One element to take into account, in this sense, is that Starting in January, the process of recomposing public rates will beginaccording to what they say in the Treasury Palace.
There’s no money
The Ministry of Economy also maintains that the president’s decision is firm. Javier Milei to reach zero deficit. And, from this point of view, The team led by the head of the area, Luis Caputo, has already told the provinces that transfers will be restricted to a minimum.. “Provincial governments are also going to have to carry out an austere policy,” they say.
Precisely to give some help to the boxes inside, The Executive Branch plans to send a project to Congress to modify the Income Tax – a tax that is co-shareable. The president rejected the proposal of some governors to share the tax on the check, but he agreed to reverse the last modification in Profits (which excluded some 800,000 taxpayers from the tax). If, as expected, the modification is approved, the improvement in income could be equivalent to 0.4% of GDP and the provinces could earn around 1.7 trillion pesos.
On the other hand, the Treasury Palace denies that the country is seeking fresh funds of USD 15,000 million to be provided by the International Monetary Fund (IMF), as some sources pointed out. “Our policy is to carry out a fiscal balance program seriously and we are not seeking to increase debt,” they point out.
Still, in the wallet They do not rule out the possibility of obtaining a line from the IMF that would be used to recompose the reserves held by the Central Bank. (today negative by more than USD 10,000 million).
Faced with the lack of foreign currency, the government launched bonds to meet the commercial debts of importers -BOPREAL-. Official sources estimate that the increase in these liabilities in recent months was on the order of USD 30 billion. This Thursday the first tender for these titles was held and only USD 68 million was demanded out of a maximum awardable amount of USD 750 million. However, official sources attribute this result to the fact that the companies are just studying the operation, but they point out that “There is interest in BOPREAL and this will be noted in the upcoming tenders.”
Source: Ambito
