In 26 days, exactly, the program ends now 12 which allows you to finance purchases of national products for up to 24 hours in fixed installments with a credit card, and the Government is already working on a 3 and 6 installment plan which immediately replaces the outgoing one and encourages consumption.
Government sources confirmed this to Clarin “they are working against time” in a program that connects with Now 12, which ends on January 31st.
The new plan – which will not be called Now 12 – would allow finance purchases in 3 and 6 installments with a subsidized rate.
As confirmed by official sources to this medium, the Secretary of Commerce, led by Pablo Lavigne, “works” on the issue with the Central Bank and the rest of the entities.
Hour 12 expires January 31st and the continuity of a similar program was one of the requests that the companies grouped in the Argentine Confederation of Medium-sized Enterprises (CAME) addressed to president Javier Milei.
The concern of SMEs is the sharp decline in the purchasing power of Argentinians, a product of the constant increase in prices and inflation which, moreover, in December would reach the worst level in the last 20 years (the data will be known next Thursday 11 January).
According to the latest report prepared by the CAC (Argentine Chamber of Commerce and Services), the Consumption Indicator showed that in November In the year-on-year comparison, a decline of 4.1% was recorded, which implies a seasonally adjusted contraction of 6.9%. compared to the month of October.
He more complex point to finish outlining that new scheme It’s in the interest rates. Today, the nominal annual rate for Ahora 12 is 82.5% versus the 110% that banks pay savers for fixed-term deposits.
According to official data, “Now 12” recorded a total of 6.4 million transactions in November 2023 with a revenue of $477,349 million.
The Now 12 program, which born 9 years ago (in September 2014, during the presidency of Cristina Fernández and the management of Axel Kicillof in Economía), is the financing program for the purchase of goods and services, which in its different versions allowed you to purchase in 3, 6, 8, 10, 12, 24 and up to 30 fixed installments monthly by credit card, and includes a varied range of sectors: household appliances, clothing, footwear and leather goods, bicycles and motorcycles, building materials and tools, furniture, tourism, books and stationery, opticians, toys, technical services, electronics , cell phones, among others.
SN
Source: Clarin
