crazy!The inflation rate has reached nearly 99%
- Author:sofreight.com
- Release Date:2023-03-02
In this country, the annual inflation rate is nearly 99%!
On February 14, local time, data released by the Argentine National Statistics and Population Census Research Institute showed that the country's inflation rate in January 2023 reached 6%, an increase of 2.1%year -on -year, and a month -on -month increase of 0.9 percentage points.At the same time, the cumulative annual inflation rate in December has increased to 98.8%.
Related data also shows that in January of this year, the consumption prices in Argentina's residents' culture and entertainment tourism rose the largest, reaching 9%.Secondly, the prices of public services and communications services such as hydropower gas have increased by 8%.The increase in fuel and food prices reached 7.8%and 6.8%, respectively.
On February 2nd, local time, the Argentine central bank approved the new banknote with a face value of 2,000 pesos. It is expected that new banknotes will be officially circulated in June or July this year.Another insider said that the central bank is evaluating whether to continue to issue banknotes with a face value of 5,000 pesos.
On the new version of the 2000 peso banknote, the portrait of Argentine's first female doctor Cecilia Grielson and Aqian Health Minister Lamon Carrine.In the announcement, the ANBC stated that the issuance of new banknotes was to commemorate the development history of science and medicine in Argentina.
More than 80%of Argentine companies suffer from import difficulties
Argentina reported on January 13 that a survey report from the Argentine Industrial Alliance showed that 80%of Afghan companies encountered problems in imports, and companies faced multiple difficulties in financing and production development.
The report pointed out that in October 2022, the government launched a new import declaration system, which led to a longer delay of relevant import procedures.Relevant enterprises said that the import of raw materials for production is the most affected. 90%of the enterprises indicate that it is difficult to obtain the financing required for imported raw materials. 70%of the enterprises said that the difficulty of supply of raw materials caused some production lines to stop working.The survey shows that only 28.2%of enterprises have positive expectations for their own operating conditions, and 14.1%of companies expect the economic situation in Afghanistan to improve.
The Ministry of Economic Affairs of Argentina announced the cancellation of lithium export tax refund policy
Argentina's "Financial Report" reported on January 16 that on the 16th, the Argentine Ministry of Economic Affairs issued a resolution No. 15/2023 announced the cancellation of tax refund policies such as lithium, lithium oxide, lithium hydroxide and lithium carbonate.Earlier, the Argentine lithium industry enjoyed export tax refund with a limit of 2.5%-5%.
The Ministry of Economic Affairs stated that during the development of Ah Lithium Mine, the competitiveness, development technology and infrastructure construction of the lithium industry have been significantly improved.At present, the growth of lithium demand for lithium has driven the price of lithium products to rise sharply, project profitability has increased, and incentive measures such as tax refund have completed their historical mission.
67%of Argentina's exports in 2022 came from agricultural relevant departments
Argentina reported on February 8 that the Argentine Agricultural Development Foundation released data showing that in 2022, the Agricultural Department exported a total of nearly 60 billion yuan, an increase of 8.5%year -on -year, accounting for 67%of the national exports.Among them, the exports of dairy, meat, and grains increased by 24%, 17%, and 9%year -on -year, respectively.Products with the largest exports throughout the year include barley (71%), sunflowers (42%), wheat (35%), poultry (24%) and dairy products (24%).In general, the proportion of domestic sales and exports of Agricultural products is 54%and 46%, respectively, and the export market covers 155 countries around the world.China is the main buyer of Ai beef, poultry meat and barley.
Monetary depreciation
In the past 2022, Argentina's Disso depreciated by nearly 60%against the US dollar.The scale of foreign debt was as high as US $ 274.8 billion, accounting for 56%of GDP.The foreign exchange reserve was only $ 32.5 billion, and it decreased by 3 billion US dollars from the end of last year.
Over the past ten years, Argentina's inflation rate has reached double digits each year.The causes of high inflation are many aspects, including continuous deficit expenditure, continuous currency depreciation, and Russian -Ukraine conflicts that affect energy and food prices.
Xie Wenze, a researcher at the Chinese Academy of Social Sciences, pointed out that for a long time, Argentina's fiscal deficit mainly relies on increasing the issuance of government bonds and increasing currency to balance, leading to a large extent leading to the depreciation of the local currency and high inflation.
In order to slow down the inflation, the Argentine government announced in November 2022 that an agreement was reached with supermarkets and mass consumer goods suppliers, and the price of frozen or strict supervision of about 1,500 products by March 2023.
Based on the consideration of suppressing inflation and stable exchange rates, the Argentine Central Bank started the interest rate hike cycle in early 2022. From January 6 to September 15th, the benchmark interest rate was greatly raised from 38 % to 75 %.%.
A large number of foreign exchange reserves in Argentina were spent on imports, so since the end of 2021, the Argentine government has frequently introduced import restriction measures.In March last year, the Central Bank of Argentina issued an announcement on Class B imported goods that required the SIMI import license to be cleared at least 180 days after the Argentine Customs Customs Clearance can be replaced with foreign exchange markets.In October 2022, the government launched a new import application system, which led to a longer delay in the relevant import procedures.
Pay attention to shipments!Beware of buyers to abandon goods and collect foreign exchange risks!
On February 14, local time, data released by the Argentine National Statistics and Population Census Research Institute showed that the country's inflation rate in January 2023 reached 6%, an increase of 2.1%year -on -year, and a month -on -month increase of 0.9 percentage points.At the same time, the cumulative annual inflation rate in December has increased to 98.8%.
Related data also shows that in January of this year, the consumption prices in Argentina's residents' culture and entertainment tourism rose the largest, reaching 9%.Secondly, the prices of public services and communications services such as hydropower gas have increased by 8%.The increase in fuel and food prices reached 7.8%and 6.8%, respectively.
On February 2nd, local time, the Argentine central bank approved the new banknote with a face value of 2,000 pesos. It is expected that new banknotes will be officially circulated in June or July this year.Another insider said that the central bank is evaluating whether to continue to issue banknotes with a face value of 5,000 pesos.
On the new version of the 2000 peso banknote, the portrait of Argentine's first female doctor Cecilia Grielson and Aqian Health Minister Lamon Carrine.In the announcement, the ANBC stated that the issuance of new banknotes was to commemorate the development history of science and medicine in Argentina.
More than 80%of Argentine companies suffer from import difficulties
Argentina reported on January 13 that a survey report from the Argentine Industrial Alliance showed that 80%of Afghan companies encountered problems in imports, and companies faced multiple difficulties in financing and production development.
The report pointed out that in October 2022, the government launched a new import declaration system, which led to a longer delay of relevant import procedures.Relevant enterprises said that the import of raw materials for production is the most affected. 90%of the enterprises indicate that it is difficult to obtain the financing required for imported raw materials. 70%of the enterprises said that the difficulty of supply of raw materials caused some production lines to stop working.The survey shows that only 28.2%of enterprises have positive expectations for their own operating conditions, and 14.1%of companies expect the economic situation in Afghanistan to improve.
The Ministry of Economic Affairs of Argentina announced the cancellation of lithium export tax refund policy
Argentina's "Financial Report" reported on January 16 that on the 16th, the Argentine Ministry of Economic Affairs issued a resolution No. 15/2023 announced the cancellation of tax refund policies such as lithium, lithium oxide, lithium hydroxide and lithium carbonate.Earlier, the Argentine lithium industry enjoyed export tax refund with a limit of 2.5%-5%.
The Ministry of Economic Affairs stated that during the development of Ah Lithium Mine, the competitiveness, development technology and infrastructure construction of the lithium industry have been significantly improved.At present, the growth of lithium demand for lithium has driven the price of lithium products to rise sharply, project profitability has increased, and incentive measures such as tax refund have completed their historical mission.
67%of Argentina's exports in 2022 came from agricultural relevant departments
Argentina reported on February 8 that the Argentine Agricultural Development Foundation released data showing that in 2022, the Agricultural Department exported a total of nearly 60 billion yuan, an increase of 8.5%year -on -year, accounting for 67%of the national exports.Among them, the exports of dairy, meat, and grains increased by 24%, 17%, and 9%year -on -year, respectively.Products with the largest exports throughout the year include barley (71%), sunflowers (42%), wheat (35%), poultry (24%) and dairy products (24%).In general, the proportion of domestic sales and exports of Agricultural products is 54%and 46%, respectively, and the export market covers 155 countries around the world.China is the main buyer of Ai beef, poultry meat and barley.
Monetary depreciation
In the past 2022, Argentina's Disso depreciated by nearly 60%against the US dollar.The scale of foreign debt was as high as US $ 274.8 billion, accounting for 56%of GDP.The foreign exchange reserve was only $ 32.5 billion, and it decreased by 3 billion US dollars from the end of last year.
Over the past ten years, Argentina's inflation rate has reached double digits each year.The causes of high inflation are many aspects, including continuous deficit expenditure, continuous currency depreciation, and Russian -Ukraine conflicts that affect energy and food prices.
Xie Wenze, a researcher at the Chinese Academy of Social Sciences, pointed out that for a long time, Argentina's fiscal deficit mainly relies on increasing the issuance of government bonds and increasing currency to balance, leading to a large extent leading to the depreciation of the local currency and high inflation.
In order to slow down the inflation, the Argentine government announced in November 2022 that an agreement was reached with supermarkets and mass consumer goods suppliers, and the price of frozen or strict supervision of about 1,500 products by March 2023.
Based on the consideration of suppressing inflation and stable exchange rates, the Argentine Central Bank started the interest rate hike cycle in early 2022. From January 6 to September 15th, the benchmark interest rate was greatly raised from 38 % to 75 %.%.
A large number of foreign exchange reserves in Argentina were spent on imports, so since the end of 2021, the Argentine government has frequently introduced import restriction measures.In March last year, the Central Bank of Argentina issued an announcement on Class B imported goods that required the SIMI import license to be cleared at least 180 days after the Argentine Customs Customs Clearance can be replaced with foreign exchange markets.In October 2022, the government launched a new import application system, which led to a longer delay in the relevant import procedures.
Pay attention to shipments!Beware of buyers to abandon goods and collect foreign exchange risks!