As part of a meeting of its Economic Cabinet, the National Government resolved the continuity of the Emergency Assistance to Work and Production (ATP) programme to assist businesses with the payment of September wages.
After the meeting led this afternoon by the Chief of Staff, Santiago Cafiero, at Casa Rosada, the Minister of Productive Development, Matías Kulfas, reported that
“THE continuity of ATP was resolved under conditions similar to those given in the last month, beyond some minor adjustments.” The meeting was also attended by the Minister of Economy, Martín Guzmán, his working pair, Claudio Moroni, the holder of AFIP, Mercedes Marcó del Pont, the president of the Central Bank, and the Deputy Chief of Staff, Cecilia Todesca Bocco.
For the ATP 6, which will assist companies in paying wages accrued during the month of September, a scheme very similar to that applied over the past month is expected. “In October we will be paying the supplementary salary plus this credit scheme convertible into a subsidy subject to job creation, at the same time as the so-called critical sectors continue with the benefit until the end of the year,” Kulfas said in reference to gastronomy, tourism and culture companies, among others.
The fifth stage of the ATP reached 134,746 companies and nearly 1,400,000 workers, through the payment of supplementary wages for cases where billing does not yet show nominal recovery, with support of $26.82 billion. Meanwhile, more than 26,500 companies applied for loans under the ATP for the accompaniment of those companies that still have a nominal recovery in turnover of up to 40%, benefiting 270,613 workers by another $5,227 million.
Since its launch, the State has made payments of $176.2 billion to a total of 8.8 million beneficiaries, depending on the numbers they handle at the Anses. In the last stage of the programme, the Government provided for an incentive scheme for job creation where-making by which enterprises will be able to convert payments of the quotas for these loans into state subsidies based on job creation over the next four quarters. Minister Kulfas, who acted as spokesman for the meeting, also noted that the Economic Cabinet conducted an analysis of the macroeconomic outlook and the productive world, and “reviewed the discussion regarding an alleged exodus of companies, which is not such.”
“There have been one-off cases that also have to do with the international crisis,” but he said that “it is quite far removed from the idea that there is a mass exodus, beyond that fake news was wanted to be installed,” the official said.
On the contrary, he highlighted “the large number of investment announcements that are happening in a situation of complexity but in a very different scenario that has been desired to give a supposed exodus.” We see an encouraging picture in the industrial sector with a complex overall scenario because the crisis exists, the pandemic exists, no one is denying reality but there is a heterogeniety in which there are sectors recovering and others with difficulties,” he stressed.
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