August 23rd, 2024
1. Government unveils database of 12 million daily prices
This week, the Secretariat of Industry and Commerce provided public access to the database with the information processed daily by the Argentine Electronic Price Advertising System (SEPA). This is a data package that gathers around 12 million prices from 3,600 stores that carry out retail sales of mass consumption products all over the country. SEPA gathers daily price information on 70,000 products in the areas of food, beverages, cleaning, personal hygiene, pet products, household appliances, home equipment and construction materials. The retail prices of these 70,000 products represent 90% of the total prices. The measure is part of the Open Government policies, which aim to provide more transparency, innovation and citizen participation in public management.
2. Judge Ariel Lijo defends his candidacy for the Supreme Court before the Senate
In a public hearing that lasted more than eight hours, the Executive Branch’s candidate for a seat in the Supreme Court of Justice, Ariel Lijo, defended his candidacy before the Senate’s Agreements Committee and opposed the accusations against him. “I totally reject my alleged lack of moral fitness,” he said. The judge received questions from senators from across the political spectrum, where he was asked about the gender quota, his performance, the cases that fell under his jurisdiction and the allegations against him. Among the senators who most questioned his candidacy were Carolina Losada (UCR), Cristina Álvarez Rivero (PRO) and Francisco Paoltroni (LLA). Now the opinion to give agreement must gather the nine necessary signatures before reaching the chamber, where it must be approved by two-thirds of the body.
3. Chamber of Deputies rejects fund increase for SIDE
The Chamber of Deputies rejected Decree 256/2024, by which the Executive Power had increased by $100 billion the funds reserved for the State Intelligence Secretariat (SIDE). Despite strong pressure from the Government, the opponents achieved the rejection of the DNU with 156 affirmative votes, 52 negative votes and six abstentions. This triumph was achieved thanks to a sector of the PRO – until now a staunch ally of the ruling party – which decided to attend the vote, following instructions from the head of the party, Mauricio Macri. Although the vote in the Senate, which could confirm the nullity of the DNU, is still awaited, serious doubts have arisen as to the legality and transparency of the management of these resources. Since July 23, when President Javier Milei signed the decree, the SIDE has spent 80% of the reserved funds allocated to it. This result is another reflection of the internal crisis that the ruling party is facing.
4. Economic activity falls 3.9% year-on-year; US$1.575 billion trade surplus is recorded
INDEC published the Monthly Estimator of Economic Activity (EMAE) and the Argentine Trade Exchange (ICA). On the part of the EMAE, in June 2024 economic activity in Argentina fell by 3.9% year-on-year, marking a deeper decline than the previous month. This contraction is mainly attributed to the decline in manufacturing and trade, two of the most affected sectors. On a monthly basis, the EMAE also showed a 0.2% drop with respect to May. In turn, the ICA reported that Argentina reached a trade balance of US$1.575 billion in July 2024. Although this marks the eighth consecutive month with a trade surplus, the result shrank month-on-month and was the lowest since February, mainly due to a partial recovery of imports.
Ámbito Financiero: Se desinfla el superávit comercial: fue de u$s1.575 millones en julio, el menor nivel en cinco meses
El Economista: El EMAE retrocedió 3,9% interanual en junio
5. Government scraps withholding taxes on account of income tax and VAT for digital payments in commerce
The Government eliminated withholdings on account of VAT and Profits for sales made by businesses with debit and credit cards and other electronic means of payment, the Ministry of Economy announced on Tuesday. The regulation, which was published this Wednesday in the Official Gazette, will take effect on September 1. Minister of Economy Luis Caputo said that this will be the first of a series of measures that will be announced during the next month to reduce “significantly the Argentinean cost.”