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Now 30 Announced, the Plan to Buy White Line Appliances


The Government launches it this Monday from Cañuelas. Now 12 follows in clothing, between 3 and 6 quotas for bicycles and 24, for other items.

08/01/2021 20:09

  • Clarí

  • Economy

Updated 08/01/2021 20:09

With the agreement of the banks, the Government will relaunch this Monday, from an act in Cañuelas, the Now 12 program, in an extended version that includes plans with 30 and 24 installments.

The item chosen for the Now 30 is the white line, which allows you to buy certain specific appliances.

The plan is specifically focused on the purchase of "white goods" such as stoves, refrigerators, washing machines, and dishwashers.


the goal is to encourage consumption

, especially in the

months leading up to the elections.

The official launch will take place

in a ceremony in the industrial park of Cañuelas, scheduled for 11.30 on Monday, in which they participate Cabinet Chief Santiago Cafiero and Matthias Kulfas, Minister of Productive Development, together with representatives of chambers of producers involved in the ad.

Santiago Cafiero and Matías Kulfas will be the visible faces of the ad.

Paula Español participated in the negotiations.

Photo Emmanuel Fernández

Alberto Fernández will also participate in the event, but

via zoom


The president is fulfilling a

preventive isolation

that he decided to fulfill - despite not being obliged - on his return from the visit to Peru, due to the inauguration of Pedro Castillo.

The negotiations

To arrive at port with the novelty, Minister Kulfas faced the negotiations together with the Secretary of Internal Trade, Paula Español, and the head of the Central Bank, Miguel Pesce.

He maintains that

Now 30 will start in August

and the idea would be


extend it

until the end of the year.

To reach an understanding, the Government had to give some benefits to the banks, such as an adjustment of rates, which will go from the current 25% to 29% per year in pesos for that plan and

increase the "franchise"

received by the entities that dump more resources to the Now 12 plan.

Last Thursday, the Central Bank sanctioned a regulation that extends from 6% to 8% the quota that banks can dedicate to this program with

benefits in reserve requirements

, that is, the part of the deposits that banks must deposit with the BCRA as safeguard and that are immobilized.

Then, those who lend the most

will be able to have more liquidity to buy Leliq

at 37% per year with part of that minimum cash.

The Now 12 plan expired this Saturday the 31st. It was renewed and at the launch it points to the

footwear and clothing items


According to official data, between January and July, clothing represented

39% of the

plan's fixed-fee



23% of the total invoiced


In addition there will be between 3 and 6 fixed fees for


- in addition to the 24 that were already in force.

Two-year financing

continues for

televisions and small appliances;

computers, notebooks and tablets;

mattresses, furniture, materials and tools for construction;

tires, accessories and spare parts for cars.

They are part of the Program 30 "headings of products and services produced and marketed

with Argentine labor

," they officially reported.

They are air conditioners, air conditioners and / or ventilation, dishwashers, washing machines and dryers, kitchens, ovens and stoves, heaters and stoves, water heaters and heaters, refrigerators, freezers and freezers.

Now 12 and sales

According to official data, Now 12 added 30.5 million operations so far this year, representing 22% year-on-year growth in the face of the icy pandemic numbers of 2020.

They represented a turnover of $ 363,871 million in the first semester,

a 61% year-on-year increase


Bicycles, in 3, 6 and 24 installments.

Photo Fernando of the Order

According to data from CAME, retail sales accumulated a year-on-year increase of 15% during the first half,

but they are still 13% below

the same period of 2019 at constant prices.

Cell phone manufacturers ask the government to


low-end devices

in the program again


  It hasn't happened yet.

The latest updated data shows that between January and April of this year, sales made with this program reached $ 232,407 million.

In March, the show peaked when billing reached $ 70,000.

In April, when the plan was renewed, things changed: the three-month grace period that had been in force since the 2020 quarantine was eliminated and quotas for clothing and footwear were shortened.

In addition, cell phones were left out of financing schemes.

This caused that in April, the last month with available information, the invoicing fell 22%, to $ 54,000 million.

It is noteworthy that the negotiations between the Production officials, the Central and the banks

were very tense

for several days.

The banks did not want to continue financing the consumer program at the rates that were in effect.

Their argument: they have a loan portfolio with a significant portion agreed to at the ceiling rates set by the Central Bank.

And although many banks benefit from the cheap liquidity of sight accounts (savings account and checking account) in other entities, this advantage is very limited or null.

The truth is that in recent months the profitability of the financial system has been declining and there are many entities that are just above the waterline.

A recent report by the consulting firm Econviews shows that with the maximum rates for credit cards set by the Government, plus the obligation to give loans to the private sector, the profits of financial institutions is the lowest since 2011.

The pandemic also hit the entities.

By having the branches closed for several months and with face-to-face operations now restricted only to clients with shifts, the chances of selling additional services were reduced.


Look also

Fight between the Government and the banks for the extension of Now 12

Cell phone manufacturers ask to be included in the new version of Now 12

Source: clarin

All business articles on 2021-08-02

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