In the Official Gazette published this Monday (24.07.2023/XNUMX/XNUMX), the National Government established the temporary differential exchange rate of $340 per dollar for exports made within the framework of the Export Increase Program (PIE), and that the duration of this system will be maintained until August 31.
This is established by the Decree 378 / 2023 whose text modifies the third edition of the Export Increase Program which was launched in early April, and the Government explained that it does so “as a way to improve tax revenues, affected by the drought.”
"It is necessary to continue implementing policies that aim to strengthen the Central Bank's (BCRA) reserves, stimulating the generation of genuine income for the national State, resulting from the export of goods with a low impact on the national supply value chains," the regulation stated.
In this regard, the decree stressed that “the increase in the supply of foreign currency contributes to alleviating the negative impact on local imports due to the rise in fuel and energy prices, which severely affects the availability of external reserves, considering the current international context.”
Although the decree does not specify still what are the agricultural products which will enter into that system and delegate that task to the Ministry of Economy, has already implemented the new exchange rate.
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