Argentine Government Announces Income Boost for Informal Workers

Argentine Government Announces Income Boost for Informal Workers

Boosting Informal Workers’ Income

In a move to bolster the economic position of informal workers, Argentina’s Minister of Economy, Sergio Massa, and the head of the National Social Security Administration (ANSES), Fernanda Raverta, have announced a new income boost. This initiative, similar to the Emergency Family Income (IFE) offered during the pandemic, involves a payment of $94,000 in two installments. This action is targeted at informal sector workers, which include individuals engaged in odd jobs and not part of the monotax. The decision was made to fortify their income with two basic baskets each valuing $47,000 for October and November. The measure is projected to be beneficial for over 3 million workers.

Registration and Eligibility

The ANSES system will facilitate the registration for this benefit, available until 10 PM daily. Applications must be made through the entity’s website using the Social Security key. The beneficiaries of this initiative are workers in the informal sector who were not covered previously.

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Pre-election Measures

This measure is one among several others announced by Sergio Massa within the 48 hours leading to the pre-election ban that inhibits new state announcements. These measures have been crafted to benefit various sectors, including workers, retirees, pensioners, SMEs, and taxpayers. Among these are a bonus of $60,000 for registered workers and $25,000 for domestic workers, extra payments to retirees, the return of 21% VAT on basic basket purchases to 21 million Argentines, and an increase in the minimum non-taxable income to $1.7.

(Read Also: Argentina Announces an Extraordinary Bonus for Unemployment Beneficiaries)

Supporting Unemployment Benefit Recipients

The Ministry of Labor also unveiled the disbursement of an extraordinary bonus of $20,000 in two installments of $10,000 in September and October for recipients of unemployment benefits. This “extraordinary and additional” payment, made through ANSES, aims to “help” informal workers, one of the sectors most adversely affected by inflation and post-PASO devaluation.

A Broader Economic Strategy

Furthermore, the government’s economic measures include offering credit lines for SMEs, monotaxpayers, and employees, and implementing tax alterations to the Monotax and Autonomous regimes. The overarching goal of these initiatives is to mitigate the economic impact of inflation and support the most affected sectors.

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