Business
Oil companies should increase production
The governors of the hydrocarbon producing provinces met in Buenos Aires to submit the claim.
The president of the Federal Organization of Hydrocarbon Producing provinces and governor of Chubut, Martín Buzzi, criticized the companies of the field because they submit positive financial statements but profits do not show in production volumes.
Therefore, he signed an agreement to demand oil companies to increase production while he said that given the country's conditions, both regarding conventional and non conventional oil fields, Argentina should not import energy.
Moreover, the governor of the province of Neuquén, Jorge Sapag, announced the status of national emergency due to lack of investments.
Car registration record
There were 112.607 new cars on the streets last January, i.e. 8% more than the same month the previous year, confirmed the Vehicles Association.
Abel Bomrad, the entity’s head highlighted that last January’s registrations exceeded the previous twelve months and therefore completed 27 months of consecutive growth.
Transport fares won't change, said Transport Secretary, Juan Pablo Schiavi.
Schiavi added that the subsidy withdrawal from road tolls for cargo and passenger transport will not entail any change of fare costs.
The official said that the government is cutting down subsidies and, in no way, increasing fares”.
He also said subsidies on road tolls were really insignificant. In fact, they amounted to 2,4 M pesos annually, i.e. 0,05 % of companies invoicing.
Mining project Famatina cancelled
The Canadian company Osisko announced their decision to withdraw from the project of Famatina due to the intense protests by local environmentalists.
"If there is no social permission to explore and develop the project Famatina, there will no be any project, said the company in a communiqué published in their own web page.
The piece of news arose a high expectation in the city of Alto Carrizal where thousands of people have camped out to ban the entrance of Osisko trucks to the Famatina hill since last January 2,.
Credit line to be granted to draught victims
At the end of the meeting between ruralists and the government, Eduardo Buzzi, president of the Rural Federation, anticipated that the national government promised to help the rural area with 2,30B pesos in credit lines. They add to the already 500 M pesos in the emergency fund already announced at the beginning of the month.
The aid will be integrated by "1.500 B pesos funded by the Banco Nación for the whole country & 800 M especially for the province of Buenos Aires" with a fixed annual rate of 8% in pesos.
Unemployment rate drops to 6.7%
The unemployment rate dropped to 6.7 percent in the last quarter of 2011, President Cristina Fernández de Kirchner announced as she resumed her activities after a three-week medical leave of absence. “We dropped below the 7 percent barrier for the first time ever,” she assured.
Unemployment dropped 0.6 percent in comparison to the same time period of 2010.
Duing the meeting and through videoconference the president inaugurated infrastructure works carried out in “El Bolson” dam in the province of Catamarca.
Moreover, during the inauguration, also through videoconference, of 2 TV Digital antennas in the city of Necochea, she assured that by 2013, 95% of our territory will have access to digital TV.
Through a third videoconference with the city of “Villa La Angostura” in the Patagonian area, she highlighted the importance and growth of domestic tourism.
And, she announced the channeling of an IDB loan for 7 M usd extended to 10 M to extract 1 M3 of ash from the area affected by the Puyehue volcano ash spewing.
'Argentina will have a good year despite the global crisis,' said Lorenzino
Economy Minister Hernán Lorenzino, admitted today that the global economic crisis has had an impact on Argentina, but showed optimism in stating that even still, "we are going to have a good year."
According to the Economy minister Argentina “is going to have a good year with growth, generation of new jobs, a robust internal market, even though the air coming from international markets is not a positive one.”
Lorenzino also highlighted that the economic policies adopted by the Government, “will help us achieve our goals for 2012.”
Although the international crisis has affected the country, Lorenzino further stated that "this negative economic air does not imply that that our vision for the year’s progress will cease to be optimistic. The President has mapped out the economic path very clearly, with plans for growth and social inclusion."
Supermarket sales increase 14.2% in December
Supermarket sales gained 14.2 percent in December compared to the same month in 2010, according to the Indec National Statistics Bureau.
Meanwhile, the sales increased 2.6 percent in December against the previous month.
The official index also reported that the sector has accumulated a 27.7 percent increase during 2011.
Fiscal surplus reaches $4.9 bln pesos in 2011
The fiscal surplus almost reached $5.000 billion pesos in 2011, during which the country's economy grew 9.2 percent, according to an announcement made by Vice-President Amado Boudou.
In a press conference he held along with Economy Minister Hernán Lorenzino, Boudou detailed that the surplus climbed to $4.919 billion dollars last year.
He said the government fostered capital investment in infrastructure to shake the economy and the result showed up in a 9.2% growing rate for the country. The measure also dropped unemployment levels to 7.1%.
The key factor was the development of the domestic market, he added.
Industrial output climbs 6.5% in 2011
The industrial output climbed 6.5 percent in 2011, mainly boosted by the car sector, according to the INDEC National Statistics Bureau.
The Industrial Monthly Estimator (EMI) registered a 1.4 percent increase in December compared to the same month in 2010.
Besides, the official agency reported that the production has soared 0.9 percent in the last month of 2011 against November
Shopping-mall sales, in turn, grew by 93.8% last December as compared to the previous year.
Industrial output climbs 6.5% in 2011
The industrial output climbed 6.5 percent in 2011, mainly boosted by the car sector, according to the INDEC National Statistics Bureau.
The Industrial Monthly Estimator (EMI) registered a 1.4 percent increase in December compared to the same month in 2010.
Besides, the official agency reported that the production has soared 0.9 percent in the last month of 2011 against November
Shopping-mall sales, in turn, grew by 93.8% last December as compared to the previous year.
"Investments are the evidence that the country is on the right road, said Industry Minister
While taking part in the launching of the next Industrial exhibition to be held in the city of Mar del Plata next September, Débora Giorgi mentioned three companies: PepsiCo, Braun Medical & Frío Polar, currently located at the Industrial Park General Savio, that announced investments for 110 M.
The investments will be assigned to increase exports of food and medicinal products and will generate 700 jobs.
She reiterated that “we are looking for the leveling of an industrialization process that had been left behind. The Federal Industrialization policy aims at achieving a regional balanced development with added value at the place of origin
Rural Emergency Extended
The Agricultural Minister announced the decision to include the provinces of Entre Ríos, La Pampa, Neuquén & San Juan under the rural emergency umbrella.
Norberto Yauhar anticipated to the Heads of the Liason Table the extension of the rural emergency measure that already affected the provinces of Bs As. and Santa Fe.
The official decision will provide farming producers with financial aid, an extension of the tax deadline in at least six provinces and other credit facilities announced the sector leaders after the meeting with the Minister
The Government demands oil companies for irregularities in oil prices
In a press conference given by government officials at the Economy Ministry, Planning Minister Julio De Vido revealed “serious irregularities" in the price of bulk gas oil sold to transport companies after receiving reports against oil companies made by a group of fuel dealer chambers.
The conference was also attended by Transport Secretary Juan Pablo Schiavi, acting President Amado Boudou, and Economy Minister Hernán Lorenzino
De Vido revealed that reports show “a substantial difference between the price of bulk gas oil supplied to transport and truck companies, and the price at regular petrol stations, being the former sometimes 30 percent higher than the latter.”
“This represents a clear market distortion in which the prices for gasoil bulk sale are being manipulated”, De Vido emphasized
Likewise, the minister remarked that the government “will deeply analyze all information received in order to determine whether these oil supply companies have abused of their dominant position hence conforming monopolies.”
To end, De Vido remembered that the “Argentine State subsidies these kind of products, and is not going to allow, under any circumstances, the existence of price manipulation”, and added, “We will fine those responsible
Afterward, Schiavi took the word to reveal that reported companies are “ Repsol-YPF, Shell, Esso, and Oil Combustibles.”
A more transparent system of imports
Foreign Trade Secretary, Beatriz Paglieri, highlighted the resolution that forces all operations to be reported as from next February
"It is an administrative mechanism that will turn exports more transparent regarding their value since it imposes a tighter control, said the official.
She said the government tries to protect labour and control companies so that they comply with price and investment regulations.
To avoid problems arising from lack of inputs to be used in production, the government included the Unions, that will provide them if necessary.
She recalled the goal is to keep the trade surplus in a world that is currently in a delicate situation therefore, she said , it is necessary we’d better keep the crisis away.
“Consumption will not be the adjustment variable”, said Economy Minister
Hernán Lorenzino addressed the Argentine Chamber Board that had expressed their concern over the levels reached by the informal economy and non registered jobs while they highlighted the need of a coordinated action between the Chamber and the official entities such as AFIP, Customs Office, Security Forces, Labor and Justice Ministry, the provinces and Municipalities. Moreover, the entity considered as very positive the government's decision to work to improve competitiveness and solve problems with the Pymes, the labor market, and the high domestic shipment costs. The Chamber published a study that highlights the importance of trade and services in national economy admitting the contribution of productive sectors.
Tax Collection, a record in 2011
The increase amounted to 31,8 % compared to the previous 2010, reflected in the amount of 130.234 B pesos.
Last year's tax collection reached 540.134 B pesos, reported the entity.
The increase was the result of larger amounts collected in Income Tax, tax on Cheque, VAT and other contributions.
The announcement was made by Finance Secretary Juan Carlos Pezoa, and Federal Public Income Administration Director, Ricardo Echegaray, who concluded 2011 was a very positive year.
Income rose by 130.234 B pesos, compared to the 409.900 B pesos last year, reports the Finance Secretariat.
Public Service use on the rise
Last November the rise reached 11% compared to the same month in 2010. Utility service consumption hikes occurred in the fields of telephoning by 19.7%, electricity, gas and water by 4.5%, passenger transport by 2% and road tolls by 0.7% announced the INDEC, Statistics Bureau.
Regarding related fields, the higher hikes occurred in cell phone use whose amount of calls increased by 24,7%, in out-of-season terms, and 25,1%, as per the original series.
Regarding electric energy, demand rose by 7,9% last November, while gas showed an increase of 2%, and drinkable water did not register any variation, reported the Water and Sewage Co, (AYSA).
Supermarket sales on the rise
Last November the hike amounted to 19,2 % compared to the same month in 2010, announced the National Statistics Bureau.
Supermarkets sales totaled 7.3 B pesos last November while shopping malls' amounted to 1.3 M compared to the same month in 2010.
Record Crop Production
The Sectarian Economic Research Consultants assured that during the current agricultural 2011-2012 season, production will reach 106,5 M tons.
Moreover, the 2010-2011 harvest campaign totalled 102,8 M tons, a rise of 8,9 % compared to the previous campaign, held IES.
The entity also announced that during the eleven months of 2011, total agricultural exports (crops, oil, sub products and industrial crops) showed an increase of 31,2% compared to 2010 with a slight rise in exported volumes of 1,2%.
Agricultural exports during the eleven months of 2011 then, amounted to 29,430 M dollars with a 31,2% rise and amounts grew by 1,2% worth 68,7 m tons.
