Economy

The Ministry of Economy reported that the 2022 fiscal deficit was 2.4% of GDP. "This represents over-compliance with the fiscal goal established in the Extended Facilities Program for the Non-Financial National Public Sector (2.5% of GDP)", agreed with the International Monetary Fund (IMF). From the portfolio that Sergio Massa leads, they consider one of the goals that he set at the beginning of his management as fulfilled: order the fiscal accounts that in the middle of the year looked overflowing. Minister Massa made reference to the "overflow" he found in public accounts during a tour of the United States in…

The commercial exchange closed the 2022 with a surplus of US$ 6,923 million, compared to US$ 14,751 million in all of 2021, according to this report Thursday on National Institute of Statistics and Censuses (INDEC). The result was obtained after in December, the exchange of goods with the exterior a gain of US$ 1,102 million, against the $371 million corresponding to the same month of the previous year, reported the agency telam. Mercosur: participation in Argentine foreign trade is the lowest in 30 years In 2022, exports totaled US$ 88,446 million and imports, US$ 81,523 million. The commercial exchange increased…

The Minister of Economy Sergio Massa announced yesterday that the Government began a process to repurchase Argentina's external debt for US$1,000 million. The news came out on the Wednesday morning before the market opened, so the day started off unsettlingly. After the announcement, the concerns about the accumulation of dollars were overcome by the optimistic side of the news that not only increased the positive streak of the titles but also boosted the increases with euphoria. Since the beginning of the round, reference bonds posted increases of around 6% in dollars, while global bonds had a better performance at the…

Accumulated annual inflation in Argentina in 2022 was 94.8 percent. Nevertheless, each item increases its average prices at different percentage points. The restaurants for example, they registered a rise of 108 percent. The motives used by the owners of the gastronomic establishments are: the fall in demand, the increase in the costs of inputs, rental prices and the increase in employee salaries, that corresponded with the agreements reached by the union agreements. The business for restaurants lies in the volume of customers and not in high prices. One problem at this time of year is that diners do not choose…

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the company Edesur must compensate users who suffered power outages between December 1 and 20, in accordance with what was ordered by the National Electricity Regulatory Entity (ENRE) through Synthesized Resolution 131/2023 published this Tuesday in the Official Gazette. According to the resolution, the compensation corresponds when it determines that 70,000 or more users found themselves out of service for five consecutive days, criterion that was met in this case and that is considered as an "Extraordinary Affectation of the Provision of the Service". The ENRE data indicate that the peak of users affected in this period was between December…

The slowdown in economic expansion could exacerbate the challenges facing the world's workers, according to the International Labor Organization (ILO). Employment levels cancel just 1% this year, down from 2.3% in 2022, and “there will be no major improvements” in 2024, the Geneva-based organization said in a report on Monday. The ILO hopes that the global jobs deficit to continue to rise in 2023, from 41 million last year. Total unemployment will probably reach 208 millionwhat corresponds to a unemployment rate of 5.8%. 4 key facts about Monotributo Tech "For the foreseeable future, most countries will not achieve a recovery…

When you talk about currency gap refers to the actual difference between the official dollar, the MEP or cash with liqui (CCL). Taking advantage of the gap between the blue and the MEP was a practice that was carried out last week and it is estimated that this will continue, at the risk of being able to terminate at any time. Given the endless restrictions to access the dollar savingswhich was the exchange rate with which this popularly known practice was carried out, a new alternative arose due to the distance between the blue and the financial dollars that allows…

Diversity and Inclusion issues are gaining more and more relevance year after year in the world in general, and therefore also in the corporate world. Aware of this trend, from the AHK Argentina (Argentine-German Chamber of Industry and Commerce) we began to work hard on these issues and added them as a transversal axis of our work. Given our function as a meeting and exchange platform, in 2021 we created a Diversity Committee, made up of members of our social enterprises, as a kick-off to start conversations on these issues and to be able to stipulate a work agenda. During…