The government changed the budget again through an administrative decision. In this realignment of expenses, which will not affect the tax result, it stands out a contribution of 1.2 billion dollars whose destiny is to support the weak SanCor dairy, which is experiencing financial problems.
Administrative resolution 54/2023, published in the Official Gazette, also increases the items for the disbursement of the $10,000 bonus for retirees and public universities,
The regulation increased the budget of the National Institute of Associations and Social Economy (INAES), which reports to the Chief of Staff, by 1.2 billion dollars and is intended to “manage transfers to agricultural cooperatives intended for SanCor Restructuring Administration Financial Trust, created in the effects of cope with the serious institutional situation of SanCor Cooperativas Unidas Limitada, to provide financial assistance for the purchase of milk, production factors and productive services”, states the Resolution.
At the end of the year, Sancor explained that it had begun working with the government on a plan that would allow the cooperative to speed up the collection of outstanding loans so that, along with other contributions, the company has predictability while resources are incorporated. intended for investment and corporate development.
The complex situation of SanCor is long overdue. “In March 2020, the cooperative presented a Restructuring Plan to the national government which envisaged the creation of a trust that would settle with some financial creditors; a structure that would allow the cooperative to be sustainable in the long term. Said plan has been evaluated and found to be reasonable and workable by a state-appointed independent consultant,” the company reviewed in that letter.
That plan was left in the hands of the Ministry of Production and in May 2021, according to SanCor, “Minister Matías Kulfas’ proposal was that the trust, with some modifications, It was to be managed by a group of companies, and based on that definition, all the information that said group requested has been sent, and they have been contacted with Atilra (the guild).”
In October 2021, the business group presented its plan and new trust format to the national government, together with Atilra, indicating that the project required funds of US$ 60 million.
As reported, the corporate group developed an Administration Trust whose contract was signed in December 2021, which required two conditions to go into effect: approval by the SanCor Assembly and entry of the $60 million pledged. In January 2022 the cooperative’s assembly unanimously approved this contract but the incorporation of the funds is still pending.
“After the Assembly was held, it was stipulated that private capital should contribute to the trust -in addition to the nation state-, which is why a new trust should be formed, which was financial so that it could play a public offering”, SanCor explained. .
This situation has delayed things and there has been no settlement during the first half of the year. Now with official funds available, the company may be on its way.
the other expenses
The Cabinet Office also absorbed $1,311 million in Open Government and Digital Country program spending; $426 million for the Administrative Innovation Program and $952 million for Connectivity, Digital Inclusion and ICT Policy Formulation.
Meanwhile, the Ministry of Economy has increased the budget for investments in various equipment by 323 million dollars, in this case to “strengthen the credits” for the acquisition of the Short Skyvan N80GB aircraft, used for the death flights of the Prefecture in l last military dictatorship, which will be incorporated into the Esma Museum.
The Palacio de Hacienda has also arranged a series of transfers to municipalities and provinces: 2.4 billion dollars for a program to promote technological development, another $2.4 billion for domestic trade policiesand an additional $2.4 billion to implement the local training program in Energy savingCircular Economy and Financial Inclusion made official this month.
On the other hand, an increase in the Department of Education budget of $14,025 million was authorized to cover operating expenses related to the National universities.
The universities leading these transfers are Buenos Aires (UBA) with $1,150 million, Lomas de Zamora with $580 million, San Martín (Unsam) $550 million; and those of Córdoba (UNC), Tecnológica Nacional (UTN) and Hurlingham (UNH), each with $500 million.
The Ministry of Labor has instead established an increase in the budget of the National Social Security Administration (ANSES) of 23,053 million dollars for the payment of the extraordinary bonus of 10,000 dollars which is paid between December and next February for holders of contributory checks and non-contributory pensions.
An amount of the same amount has been allocated by the General Secretariat of the Presidency to the National Agency for Disability for the payment of said extraordinary contribution.
Today’s amendment also adjusts the budget expenditure included in the item “Obligations of the Treasury” to allocate them to the Argentine Satellite Solutions Company (Arsat), with a budget increase of 4,500 million dollars for this company.
Finally, a transfer of 86,500 million dollars was arranged from the items of Anses’ pension benefits, which were reassigned to those corresponding to social assistance and family allowances.
Both the funds destined for the Ministry of the Economy and those of the extraordinary bonus of Anses, public universities and Inaes were resolved through a transfer of 50,301 million dollars from item 91 “Obligations to be paid by the tax authorities”, destined to provide financial assistance to different sectors of the public and private sector, and expenses that cannot be attributed to any body of the Public Administration.
With information from Telam
Source: Clarin
