‘Silver plan’ II: another letter from Massa for inflation that does not subside

It could be in a bonus or lump sum format; In any case, it will be a new “Silver Plan” II to deflate the anger inside and outside the Government due to the high inflation that only in the first quarter of this year and, according to INDEC itself, reached 21.4%, almost a quarter of the 60% guideline that the economic team projected for the entire election year.

Today, the Minister of Economy Sergio Massa will return from his tour of the United States where he obtained a loan from the World Bank for 950 million dollars and sought support from the IMF to add one more dose of leniency to the national macroeconomic goals.

One of his first items on his busy agenda for the minister will begin to define the outline of the new “Plan Plata” II. It is an instrument that will allow you to respond to the friendly fire that was revived in the last 48 hours after knowing the inflation data for March, which was 7.7%.

Rossi did not rule out yesterday the possibility of a bonus close to the payment of the Christmas bonuses

It is not yet known what format it will have if it will be a bonus or a fixed sum; nor if it will exclusively reach state workers or if it will extend to everyone, including retirees.

In principle, what transpired is that, if implemented, it would be to reinforce the salaries of May and/or June; that is, when the pre-election climate is hotter.

Yesterday, the Chief of Staff Agustín Rossi, admitted that the Government is analyzing a reinforcement to the pockets.

“All the time measures are taken that go in the direction of the recomposition of workers’ income,” said Rossi, who did not rule out close to the Christmas bonus and, incidentally, recognized that the Government has difficulties to put inflation in the box.

The economic cabinet studies the ‘Plan platita’ II. Photo: MECON

Within the Government, not everyone thinks like Rossi. There are those who resist a new “platita plan” because of the resistance it could generate in international credit organizations, which rightly demand less issuance and less public spending.

Others, on the other hand, closer to Vice President Cristina Kirchner promote measures that improve purchasing power, especially as the elections approach.

Until now, President Alberto Fernández supports the management of the head of the Palacio de Hacienda and believes that the chances of the candidacy of the Tigrense have been deflated, after the hard inflationary data of the third month of the year. For now, the vice president remains silent and from the political space that she represents, no one shoots, at least in public, against the minister, although complaints rain down over the numbers shown by the economy, which fails to give concrete signs of inflationary slowdown.

Inflation more unbridled than ever and the Government looks for culprits outside its court

If the inflation data for March was hard, there is concern about the dynamics that food has been having during the current month. There are private consultants that are already projecting a first half of April with increases of up to 5.9%, and if the curve continued like this, the basic basket would touch double digits by the end of this month.

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The Government concluded a week with jumps due to high inflation and the price of the blue dollar, which is at $400 and threatens more remarks in the coming days.

It had begun by celebrating the divisions within the main opposition force, Juntos por el Cambio, which now seems to have risen behind the criticism of the Government for the high inflation that it had accumulated in the last 12 months (104.3%) and only last month had the highest indicator since 2002 and the highest during the management of Sergio Massa at the helm of Economy.


191 thousand pesos to not be poor

Agencies

A Buenos Aires family of four needed at least 191,000 pesos in March to not be considered poor, while to be in the middle class that figure rose to $293,000.

The data from the General Directorate of Statistics and Censuses of the City established that in order not to fall below the poverty line, the family group of four members had to have $191,240.96 in income, while it required at least $107,836.35. so as not to be considered in a situation of indigence. Meanwhile, to be considered middle class, that family must have had $293,925.58.

In this way, the expenses of the Basic Food Basket (CBA), which mark the limit of indigence, had an increase of 9.83% compared to last month, standing 2.73 percentage points above inflation for the period, which stood at 7.1%. The index accumulated in twelve months reached 117.4%, higher by 12 percentage points than the 105.4% year-on-year.

Regarding the Total Basic Basket (CBT), which establishes the poverty ceiling, the monthly increase was 9.23% and the interannual increase was 111.39%.

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