SMEs celebrate the BCRA’s permission to pay for imports with their own dollars, but they issue a warning

In this regard, the president of the General Business Confederation of the Argentine Republic (CGERA), Marcelo Fernándezhighlighted that the measure “had been promoted by the entity in 2022 and had been included in the 2023 Budget, which was not approved.”

“This will allow SMEs to have greater predictability when producing” said the businessman, pointing out that it gives the company back the ability to define the most convenient time to enter imported supplies into the country.

Daniel Rosatto, from Industriales Pymes Argentinos (IPA) agrees that suggests that the Government’s idea of ​​facilitating imports with its own dollars It is positive, but warns that only “as long as it is used for raw materials and capital goods.”

What products does Argentina import?

It is to be remembered that More than 70% of what is imported into Argentina are inputs, parts, and materials necessary for the manufacturing process. and that is why the lack of dollars that the country has endured for more than two years affects production.

Already During the government of Cristina Fernández de Kirchner, measures were adopted to restrict imports through customs procedures, what were called Advance Affidavits of Importation (DJAI). Then, in the period of Alberto Fernández, systems were also devised that prevented quick access to dollars. Large companies that had Negotiable Obligations (ONs) in dollars were also forced to renegotiate maturities with their creditors.

Then, during the current administration by Javier Milei, went from a system of four payments, between February and August, to one of two and now, in November, it was decided that imports would be canceled in a single payment within 30 days.

The recent measure announced by the Central Bank (BCRA) this Thursday to allow companies to pay for their purchases abroad with their own dollars, that is, they do not have to enter the Single and Free Exchange Market (MULC), It goes in the direction of normalizing the flow of foreign trade.

The CGERA leader recalled that In the 2023 Budget, it was requested that SMEs that entered into the money laundering launched by Sergio Massa could use their dollars to cancel commitments abroad in response to a request from the sector.

The businessman added that the measure “will facilitate the accumulation of reserves.” However, he also claimed that the measure extends to outbound tourism “so that those who travel put their dollars and not those of the State.”

End of the COUNTRY Tax

Added to this is that within one month the COUNTRY Tax will end With which the value of imports, whether of finished goods or inputs, will drop sharply, because the 7.5% extra cost that importers have to pay to buy dollars at the official price is repealed.

In this regard, the government also decided to speed up the payment of imports. By defining that companies pay in 30 days, that those that came with previous operations will also shorten the terms, It tries to avoid losing tax revenue of about $500,000 million, according to estimates by former Customs director, Guillermo Michell.

Invasion of Chinese products

“The problem is thatand it will be used to bring finished goods,” Rosatto explains to Ámbito. The industrialist anticipates that ““There is going to be an invasion of Chinese products that we will not be able to contain because the measure does not discriminate anything.”

The head of IPA says that industrialists “we agree on everything to expedite” the import of inputs, but, at the same time, he warns that, as the Government eliminated customs controls, ““There will be a lot of underbilling.”. “For this reason, in 2025 we see a very difficult year for a large part of the national industry,” he indicated.