Weekly Report - 18 August 2022 (WR-22-33)

ARGENTINA: Massa’s segmentation scheme unveiled

Electricity, gas, and water tariffs will rise by an estimated 50%-140% for higher earners under the details of the ‘segmentation’ plan to phase out fuel subsidies revealed by Argentina’s new economy super minister Sergio Massa on 16 August. It was hard to avoid the paradox of the government finally lifting tariffs just days after the national statistics institute (Indec) revealed that monthly inflation in July was the highest since April 2002 in the midst of the financial meltdown. But while electricity, gas, and water price increases will give even more impetus to runaway inflation, Massa is prioritising a push to bring down the fiscal deficit.

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