He plan Procreate It was created in 2012 during the management of Cristina Kirchner to facilitate access to housing through State credits. Currently more than 17 thousand works in progress.
“Two economic news: starting tomorrow the plan Procreation as we know it will cease to exist. In addition to this, the ‘divisible mortgages’ for real estate projects in development. Great management by Luis Caputo. End,” he reported Adorni.
Since the arrival of Javier Milei to the Casa Rosadathey have already closed trust funds linked to the education, the health, the agricultural activity, the protection of forests and the neighborhood development, inter alia.
The plan that will stop working as of this Tuesday depended on the Ministry of Economy headed by Luis Caputo, and is under the administration of the Ministry of Territorial Development, Habitat and Housing.
Given the elimination of the plan, the Executive Branch will enable the “divisible mortgages” to compensate for credits that have already been granted.
Trust funds are tied to resources that the State you grant to a certain entity to manage them on your behalf or that of a third party. Generally, these entities that collect and transfer these State resources are the Mortgage bank, he Argentine Development Bank (BICE) or the National Bank (BNA).
Javier Milei ordered to advance on the trust funds: which ones have already been closed
The government of Javier Milei is carrying out a audit in relation to this type of funds and has already made progress in closing some. One of the first to be eliminated was Fund for the Fiscal Strengthening of the Province of Buenos Airescreated by the Government of Alberto Fernández for the strengthening of Buenos Aires with resources obtained from the review of the amounts granted to the City for the transfer of Security.
The same day too ordered to modify the COUNTRY Tax to reduce to a minimum the distribution that the Socio-Urban Integration Fund (FISU), the fiduciary tool used by the previous government for the urbanization of popular neighborhoods. He FISU, that before the modification received a third of the 30% collected by the tax, saw its financing reduced to a minimum since it will barely receive 1%.
Source: Ambito
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