From the Argentine Confederation of Medium Enterprises (CAME) it is reported that the Secretary of Commerce of the Nation announced the continuity of the program to encourage consumption, Now 12, which currently impacts 30 areas of production and services.

The renewal includes significant increases in the interest rates consumers pay. Up to 12 installments, the rate will go from the current 33% annual nominal to 42% annual nominal, while the 18 and 24 installment plans will cost 49% annual nominal from the previous 38%.

According to what was reported by the portfolio, the decision to increase rates is aimed at achieving exchange stability.

At CAME, however, we consider that this increase will impact consumption, slowing down the incipient recovery that was being recorded in the sector, also taking into account that the Now 12 program constitutes the only financing tool available to retail commerce throughout the country.