Huge surge in energy and water costs for Argentinean companies
05/09/2018
This year, however, the talk was of the hard times the Argentinean economy is enduring at the moment. The value of the peso has plunged and on September 3 the government announced a set of stringent measures to try to achieve a new fiscal balance. A reduction in public spending and new tax on exports are important components of that.
At the same time, Argentina has been negotiating new support from the International Monetary Fund.
Small and medium-sized enterprises represented at the event felt they had much to complain about. In the course of 2017, they said, the cost of electricity increased by almost 976%, while the cost of gas and water went up by more than 700% each. With the economy in an even deeper crisis in 2018, they expect further increases in costs this year.
At the meeting, the president of leathergoods manufacturers’ association CIMA, Ariel Aguilar, confirmed that his member companies have lost a combined total of 13,000 workers since 2015.
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