The plan includes initiatives to encourage investment, protect employment, and boost consumption and production, as well as measures such as tax cut for exports of farm produce, Fernandez told a Cabinet meeting.
Under the plan, the automotive sector will get 885 million dollars "in order to keep the activity level" since it has been one of the local growth levers during the last years, and 857 million dollars will go to small- and medium-sized companies for they are the major employment generators.
Tax cuts for exports of wheat and corn will be 23 percent and 20 percent respectively.
Xinhua reports the plan will be materialized mainly through public banks, specially the Nacion (BNA), Provincia de Buenos Aires (BAPRO) and Inversion y Comercio Exterior (BICE), the president said.
Published by Mike Hitchen, Mike Hitchen Consulting
Putting principles before profits
This blog will be on holiday from Dec 15 2008 -Jan 12 2009!
Putting principles before profits
This blog will be on holiday from Dec 15 2008 -Jan 12 2009!