About 5.5 million workers will receive a bonus of 60,000 pesos (about $164 at the current official exchange rate) from the Argentine government to try to mitigate the decline in purchasing power caused by the 22% devaluation on August 14.
This was the last of the measures announced this Sunday by the Minister of the Economy and presidential candidate Sergio Massa, who chose the social networks to list, video by video, each of the decisions of the executive “with the aim of increasing the salary of the power to reinforce. purchase,” he said in the recording.
The government of Alberto Fernández (Peronist) will give 60,000 pesos, which will be paid in two installments of 30,000 (about $82) in September and October, “because of the future joint venture” (committee that includes representatives of workers and businessmen from each sector). to determine wages, among other labor matters).
The measure will reach approximately 5.5 million private employees, whose salaries fall below 400,000 pesos (approximately $1,094) according to portfolio estimates.
This same decision will also affect government workers in the same amount and in the same terms.
The minimum wage in Argentina, updated in August, stands at 112,500 pesos (about $308), while the gross average in the private sector is 302,563 pesos ($827), according to Labor Ministry data from last June.
This was the latest in a series of measures announced this Sunday by the Minister of Economy “to take care of Argentine families” and “compensate for the damage caused by this situation.”
Massa alluded to the devaluation of Argentina’s currency that was “forced” by Argentina’s agreement with the International Monetary Fund (IMF) – to refinance the $45,000 million debt contracted in 2018 – and the historic drought that agricultural production fell this year. exports, a motor of the country’s economy.
Among the decisions taken, he announced a “boosting” of 37,000 pesos ($101.2) for retirees, bringing the minimum pension to 124,000 pesos ($339.2); the exemption from the tax component for six months for monotributistas (self-employed persons); and a 10,000 pesos bonus for social plan beneficiaries.
In addition, it announced 0% export taxes to regional economies for the agricultural sector on products such as wine, must, rice, tobacco, forestry and citrus peel.
The week before, Massa had announced a price agreement with major stores and supermarkets of 5% per month, a one-off 12.5% increase in fuel and the freeze of drug rates until October 31.
Argentina validated a 22% devaluation of its currency the day after the primary on August 13, giving La Libertad Avanza leader Javier Milei the surprise winner with 30.04% of the vote.
The devaluation of the currency quickly spilled over into prices – which were already up 113.4% year-on-year in July and monthly price increases in August are expected to exceed double digits – and parallel exchange rates, creating an exchange rate differential. around 100%.
General elections will be held in Argentina on October 22, with the main candidates to occupy Casa Rosada from December 10 being Massa, Milei and former security minister Patricia Bullrich, of the opposition coalition Together for Change (centre right). (JO)
Questions and answers from the 2023 Elections
Source: Eluniverso
Mabel is a talented author and journalist with a passion for all things technology. As an experienced writer for the 247 News Agency, she has established a reputation for her in-depth reporting and expert analysis on the latest developments in the tech industry.
