The Argentine government launched a bonus for workers in the informal sector, in an attempt to mitigate the effects of inflation, which has reached its highest levels in 30 years, with less than a month to go before the presidential elections.
The measure, which will benefit between two and three million people, was announced this Tuesday by Economy Minister and presidential candidate Sergio Massa, on the last day that the law allows him to lead government events.
The bonus totals 94,000 pesos (256 dollars, 1,272 reais) and will be paid in two installments, in October and November, being financed by an advance on taxes for the banking and financial sector.
“To ensure that this measure does not affect public accounts and that we can continue maintaining fiscal order, without this preventing us from reaching the most vulnerable sectors, we took the decision to charge an extraordinary advance of income tax to companies that were the biggest beneficiaries of the devaluation imposed by the IMF (International Monetary Fund), mainly banks, financial companies and insurance companies”, said the minister.
The rate of price increases in Argentina accelerated after a devaluation of around 20% enacted on August 14, the day after the primary elections that left the government as the third most voted force. From January to August this year, the consumer price index accumulated an increase of 80.2%, and inflation in the last 12 months exceeded 120%.
This bonus announced this Tuesday adds to other recent tax measures taken to help workers.
In the presidential elections on October 22, polls indicate as favorites Massa, from the ruling coalition União pela Pátria (Peronists), and Javier Milei, a far-right and anti-system libertarian who surprised in the primaries by obtaining the highest vote (30% ).
© Agence France-Presse
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