Argentina Plans to Eliminate Subsidies to Industries, La Nacion Reports

Argentina plans to implement a gradual and complete elimination of subsidies on gas, electricity and water for industrial and commerce sectors, newspaper La Nacion reported citing unnamed government sources.

President Cristina Kirchner is “overseeing the process and will determine the timing” of the elimination of subsidies, the Buenos Aires-based daily said.

The government will decided on the gradual elimination of subsidies one case at the time in order to avoid effects in general consumer prices. The decision on subsidies is being coordinated by the ministries of Economy and Planning, Commerce, and Industry, La Nacion reported.

Argentine’s government is also considering suspending subsidies for passenger and weight transportation, La Nacion said.

To contact the editor responsible for this story: Jose Enrique Arrioja at jarrioja@bloomberg.net

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