08/01/2021 20:09
Clarín.com
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.
And
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
to
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
operations
and
23% of the total invoiced
.
In addition there will be between 3 and 6 fixed fees for
bicycles
- 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
include
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.
DS
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
