Thus, through Resolution 7/2024 published this Wednesday in the Official Gazette, the Government clarified that this program will begin to come into effect starting next week.
As Ámbito anticipated, the Government launched its own “Now 12” to moderate the consumption drop in the midst of the economic crisis. The Ministry of Economy announced the creation of the “Program to Promote Consumption and Production of Goods and Services, called ‘Simple fee’with the objective of stimulate demand for goods and servicesby granting term financing facilities, aimed at users and consumers, for the acquisition of goods and services from various sectors of the economy selected by the Enforcement Authority.
Thus, through Resolution 7/2024 published this Wednesday in the Official Gazette, the Government clarified that this program will begin to come into effect starting next week.
The program will apply throughout the country and will be the Commerce secretary the one in charge of determining the forms and types of financing. “Likewise, it will analyze the evolution and impact on the productive sectors in order to decide inclusions or exclusions that have the effect of growth and strengthening of the internal market,” she indicated.
Despite being made official this morning, the program will come into effect from next Thursday, February 1.
Simple quota: what are the reasons for launching the program
In the recitals, the Executive Branch justified the decision by warning about the crisis that Argentina is going through and pointed to the management of Alberto Fernández. “Given the serious economic and social situation received by the current government, it is necessary to policy implementation concrete intended for strengthen the economy, Therefore, it is considered advisable to implement a stimulus program to the consumption of goods and services through the granting of financing mechanisms,” reads the text signed by Minister Luis Caputo.
“Consequently, it is necessary to plan a program that encourage consumption, the production of goods and services, attending to the optimization of existing tools when considering consumer habits,” it was added.
The Government clarified that the “financing facilities” that are established in the Simple Fee program, “will be granted through public or private entities that present financial services that adhere and will cover up to 100% of the final price.”
Simple quota: the characteristics of the program
As announced days ago, the new system will offer financing in 3 and 6 installments. Although it is expected that the interest rate be 93.5% annual nominal value, equivalent to 85% of the reference for fixed terms Central Bank of the Argentine Republic (BCRA).
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Source: Ambito
