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Wednesday, October 5, 2022

SEPO for subsidies: new questions arise and nearly 100,000 families have already abandoned state aid

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Other doubts have been added to the prohibition to purchase US$200 dollar savings quotas for those maintaining state aid.

rum on the card dollar – whether or not it would be more expensive to avoid currency bleeding and increase central bank reserves-; Authorization prohibiting those maintaining state aid from buying official dollars, including a reduction in water payments, prompted more people to give up subsidies. In recent times, there has been a spurt in the number of families who have canceled RASE forms: Already about 100,000 . Huh,

Last Thursday, the Central Bank finally confirmed Restrictions on the purchase of dollars in the official market for recipients of state aid To pay utility bills. The measure was announced amidst the government’s assessment of stockpiling concerns and other changes affecting tourism.

This authorization indicated that in one day, that is, on the previous Friday, Around 10,000 families decided to do away with the form Which enabled them to retain subsidies for public services.

In this way, more than 74,000 families who have already been discharged between Friday and Tuesday till Thursday, September 15 are included. More than 20,000 houses, indicating that there are already about 98,620 . Huh Those who have already rescinded their intention to retain subsidies for public services.

Another thing that has sparked interest this week is what’s happening with water subsidies and the lack of possibility to drop that aid today. The director of the Central Bank, Augustine d’Atelis, confirmed on Tuesday that anyone who receives subsidies from the state, “Possibility to access savings dollars has been removed”, MEP dollars, Cash with Liquidation (CCL) and CEDAR.

“The water issue is a more complicated issue because the geolocation that the section is going to be won’t be set until November, When it is implemented, maximum number of people will be out of subsidy, So that there will be no restriction on buying dollars. There is also a phase that yes, because there was a slight delay in the water issue,’ he concluded.I

In any case, the government has already warned that they will soon add the possibility of giving up the water subsidy.

There is another concern that is appearing these days, and it is the focus on whether those who retain the subsidy will be banned. Dollar purchases with credit cards made overseas.

Communication “A” 7606 of the Central Bank (BCRA) which was published in the Official Gazette on Thursday, September 15, does not specify anything on the subject.

According to Augustine d’Atelis, director of the Central Bank, “Nothing is defined for now”, However, he clarified that options are being discussed. “One looks at the balance of payments account of tourism and it had a deficit of US$750 million in the last two months, that’s a lot in this context. With that it’s an issue that’s always on the table, that’s always discussed”, said.

And in that sense he clarified: “Nothing is defined. If all these measures that we are taking, continue to reduce the exchange rate gap – as was happening until a few days ago – there will be no problem “

In addition to the many restrictions already in place for buying the currency at the official price, the first seven months of the year saw record purchases of dollar savings. for US$ 1,253 million, double that of the previous year, According to BCRA data

More restrictions on the purchase of legal dollars

Although it has nothing to do with subsidies, new stocks of soybean dollars were also launched on Tuesday. The government’s decision was to exclude from the legal exchange market a good portion of those who liquidated soybeans at $200 a dollar.

According to official figures, the measure adds some 3,581 legal persons to those banned from operating with financial dollars.


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