After the devaluation and the STEP, Sergio Massa does damage control and polarizes with Javier Milei
He confirmed that there will be a fixed sum and benefits for low-income sectors for the damage of the 20% devaluation. He pointed out that Unión por la Patria is competitive, criticized the libertarian for proposing to close the Conicet and “a Bonex Plan”, and clarified that he will continue to lead the Ministry: “I stay until December 10, I never let go of the helm in the middle of a storm”
The Government analyzes if there will be increases in YPF and in gas and electricity rates due to the rise in the dollar
Two companies have already increased fuel prices by 12.5%, although the Ministry of Economy negotiates Fair Prices with a monthly guideline of 5 percent
In a hurry to anticipate the increases, the jump in the dollar has not stopped consumers yet
In supermarkets and neighborhood shops the movement is maintained but the tension is perceived. Remarks, shortages and even the decision not to sell, the new economic reality
Short-term devaluation: the dollar would arrive in October with the same delay prior to the elections
The speed of the transfer to prices of the rise in the official exchange rate neutralizes the improvement in competitiveness, one of the advantages of devaluing. If inflation reaches double digits in August and September, that “gain” will quickly liquefy.
What will happen to the dollar and how it will impact inflation: the opinion of the experts
Neither prices nor the exchange rate aim to stay put. The specialists shared their reading regarding how the economy will evolve until October and after the general elections
Despite having devalued, the Central Bank intervened again to calm the financial dollars
The jump of the official dollar was not enough and the monetary authority continues to sacrifice reserves so that the MEP dollar and the “cash with liquid” do not skyrocket
The free dollar was left at 780 pesos
Devaluation effect: the Central Bank bought strongly in the exchange market for the third day
The monetary entity ended its exchange participation with a favorable balance of USD 117 million. In the month it has acquired a net balance of USD 601 million
Financial day: the new jump of the free dollar left it at $780 and the Buenos Aires Stock Market climbed 7%
The ticket advanced 50 pesos or 6.8% to a new record. The BCRA bought USD 117 million in the market. The persistent dollarization puts pressure on the financial market after the PASO and benefits the actions for the search for coverage
