Argentina sends draft of Public Emergency Law to Congress

On Monday, a bill was passed to Congress “to solve the economic and social crisis that Argentina is going through,” said Economy Minister Martin Guzman, who explained at a press conference at the Palacio de Hacienda in Buenos Aires the guidelines of the law of social solidarity and productive revival within the framework of public emergency.

The minister said that this proposal is considered the first step to respond to the economic situation that Argentina is going through. “We all understand how very hard the current situation is, what has been the growth of poverty, destitution, security problems. food, hunger,” said Guzmán.

In this regard, he added that the project presents “a series of measures that seek to maintain balance and protect the sectors that are in a situation of great vulnerability”, while restoring the “macroeconomic conditions that are necessary to solve all the problems of the Argentine economy.”

Among the proposals is to increase taxes on personal property and the purchase of dollars, increase agricultural export tariffs and freeze public service tariffs to relieve the most vulnerable sectors.

The tax for the purchase of dollars will be 30%, which will be divided into two parts, 70% for social security financing and 30% for infrastructure and housing. On the other hand, Guzmán warned that the South American country is going through a “very deep social and economic crisis” and in this scenario he said that “We need to recover our currency and active savings in our currency, we need to discourage savings in a currency that we do not produce, which it’s the dollars.”

K.Villarroel

Source: bancaynegocios