The Government confirmed that it will renew Simple installment and the recent drop in interest will be transferred to the program fee, as confirmed Ambit. As for deadlines and new items, they will be announced next week.
It is worth remembering that the Government applied weeks ago a reduction in the program’s interest rate of 12.5% to take it from 80% to 70% annual nominal. Now it would be around 60%..
Simple Fee It benefits consumers who make purchases in 3 and 6 fixed installments in the 29 items included in the demand incentive scheme launched in February by the Ministry of Commerce, taking into account the strong contraction suffered by the economy.
Simple Quota results so far
According to the latest official data from the Ministry of Commerce headed by Pablo Lavigne, the program registered 4,851,824 operations in February with an operated volume of $396,059 million while The average ticket during the month was $81,631.
Taking into account the billing volume, the main items were “Clothing” (32.3% of sales), “Small Appliances” (18.7% of sales) and “Footwear and Leather Goods” (8.7%). Of the total purchases through the program, 55% were made in 3 installments and 45% in 6.
The background of the previous program (Now 12) reflects that 3 and 6 installments are the most chosen by consumers; They totaled 80% of the transactions. For this reason, Commerce explained, it was initially agreed to opt for these deadlines.
Retraction of consumption
While the Government manages to better control the macroeconomythe micro is in a strong recession. This was demonstrated by the latest report from CAME (Argentine Confederation of Medium Enterprises), which recorded a cumulative drop in retail sales of 22.1%.
Meanwhile, other data also reflects what is happening in the economy: Sales in supermarkets have accumulated a decline of 12.7% in the first two months of the year.
Businessmen are already beginning to notice the need to find a “floor” in this situation. Recently, the Argentine Industrial Union (UIA) made known its concern about the drop in activity and its impact on small and medium-sized industries, with an impact on almost all areas. Forced to look for some sign in favor of alleviating the serious situation, the Government decided to maintain the Simple Fee program.
Simple Fee: what items are included
The program includes the following items: Glasses and contact lenses, Lighting fixtures, Bookstore items, Bookstore items, Bicycles, Footwear and leather goods, Mattresses, Computers, Notebooks and TabletsDurable kitchen items, Medical equipment, Cultural shows and events, Clothing, and Musical instruments.
It also adds Tourism, ToysBooks, Appliances, Machinery and Tools, Motorcycles, Furniture, Tires, accessories and spare parts, Small Appliances, Perfumery, Educational services, Kit for home connection to water and sewer servicesSports preparation services, Repair services, Motor vehicle and motorcycle repair shops, Cell phones with 4G and 5G technology, Televisions and monitors.
