The Minister of Economy, Sergio Massa, announced the implementation of the so-called “Argentine Credit” program and fiscal relief measures for companies that produce capital goods, which aim to “keep thriving” SMEs.
According to the official, the program -to which $500,000 million will be allocated- aims to “keep thriving” small and medium-sized companies, from a line of loans at subsidized rates.
“The program has a first origin, which is to put all the resources of the State to finance the economic development of SMEs. We are going to subsidize 30% of the rate and promote credit directed to the productive sectors and also promote policies of tax benefits for those who generate work,” emphasized Massa.
For his part, the Secretary of Industry and Productive Development, José de Mendiguren, said that the “Argentine Credit” program constitutes “the largest program that has been launched in the country, which will allow us to increase by 40% the credit that today exists”.
According to the official, not only is the rate subsidized by 30%, but also “we allow the provincial governments to allow 3% more subsidies, which would make this program one of the most powerful instruments.”