The Government has just applied orcontract work, in this case for 15 thousand positions, while reducing the renewal time of the rest.
Public companies not only did not have an increase in allocated items for this year, but in the first two months of the year, transfers from the Central Administration to 29 state companies suffered a cut of 53% in real terms.
Thus, of a current credit for this universe of public companies for this year of $2.5 billion, in January and February, the accrued expense (that is, committed, but which may not have yet been canceled by the General Treasury), was only $300,000 million.
Public companies: how resources were transferred
The resource transfer It was very uneven. For example, while almost 60% ($177,922 million) went to Energía Argentina SA (ENARSA), there were other companies that had zero accrued pesos, such as Aerolíneas Argentinas, the General Administration of Ports or the Argentine Air Navigation Company SE (EANA) or ARSAT.
Although the company in charge of hydrocarbon exploitation and gas and electricity distribution received more than half of the funds accrued to state companies, it had a cut in committed funds in the first two months of 47%, at current values, compared to January and February 2023, according to data from the new Monitor of Transfers from the National Administration to Public Companies launched by the Congressional Budget Office (OPC).
The other major recipient of the resources that the Treasury gave to the 29 public companies was the firm in charge of passenger transportation by train. Railway Operator SEwhich received $81,474 million in the first two months of the year, out of $336,000 million budgeted for 2024.
However, compared to the first two months of 2023, that game also had a cut in real terms that exceeded 47%.
The company is in charge of the operation and maintenance of the metropolitan lines Roca, Mitre, San Martín, Sarmiento, Belgrano Sur and Tren de la Costa, and other long-distance lines that reach, for example, Mar Del Plata and regional trains. who travel to 9 provinces.
This universe of state companies was included in the first version of the Bases Law, as subject to its possible privatization.
The public companies most affected by the “chainsaw”
The public firms most affected by the “chainsaw” set up by Milei were, in addition to Aerolíneas Argentinas, the General Administration of Ports or ARSAT, lto the Argentine Air Navigation Company (EANA); the ramp service provider at 21 airports in the national system, Intercargo, Nucleoeléctrica Argentina, Tandanor, Dioxitex SA, Innovaciones Tecnológica Agropecuarias SA, and the Polo Tecnológico Constituciónntes SA. So far this year, none have had transfers from the Treasury.
While, AYSA, the water and sewage company that provides the service in the AMBA, had a reduction in January and February of 98.5% in the funds accrued from the Central Administration.
In January it received nothing and by February, it had committed $810 million of capital expenses, against a credit in force for the year of $305,793 million.
At AYSA there have already been around 200 layoffs so far this year.
The Railway Infrastructure Administration (ADIF), which is responsible for the maintenance of trains and railway systems, also suffered an abrupt stop in the resources that the Economy must provide, of 91.7%. It had committed $1.6 billion for current (operating) expenses in February, against $118.5 billion for the entire year.
In percentage of cut compared to the first two months of 2023, R followsadio and Television National University of Córdoba SA (-82.8%); Road Corridors, the firm is dedicated to managing the infrastructure and traffic of concessioned routes, highways and highways (-74.9%); Mint (-73.1%); and Desarrollo de Capital Humano Ferroviario SA, the successor of the company Administrator of Human Resources Ferroviarios (-71.6%).
He Argentine Mail, With almost 17,000 employees distributed in its branches throughout the country, it had a decrease in state financing of 66.7%. Río Turbio Carboniferous Deposits, the coal producing company located in Santa Cruz, 64.7%.
The cut in public media
The official agency Telam, which has been closed since March 4 and its more than 700 employees with a temporary exemption from tasks from that date, had a budget reduction of 61.7%.
Another state media, Radio Universidad Nacional del Litoral LT 10 suffered a 57.3% cut; Argentine Radio and Television, which includes Public TV and National Radio, suffered a decrease in transfers in the first two months of 40%.
In the public radio, At the beginning of March, 100 journalists, producers and administrative employees received document letters informing them that their contracts that expired at the end of February or the beginning of this month were not renewed.
For the first two months of this year, Argentinian airlines has no accrued funds. The item planned in the Budget for 2024 is $75.4 billion. The flag airline opened a voluntary retirement process during March for 8,000 of its 11,000 employees, and in which some 600 workers would have signed up.
With the objective of zero deficit, in addition to the reduction of personnel hired in public companies, The cut in transfers from the Treasury is expected to continue.
Source: Ambito
