that the third quarter of 2018 closed with investment data declining, according to the latest report from the Investment Monitor. The report, compiled by the International Trade and Investment Agency (AAICI), highlights the fall of all investment items as a result of high costs import, decline in activity in this sector agrarian e industry and high level interest rate.
Because of value exchange rate, costs for imports increased for the purchase of foreign origin machinery and transportation equipment (which dropped 15% year to year), while the resulting tariff is lower in availability credit to the private sector.
With everything, from AAICI they stressed that accumulation for the first nine months of this year it remains positive, reflecting year-on-year growth of 2% compared to the same period in 2017.
"We come from difficult months and today the macro context is worse; However, we made many changes and continued to develop initiatives that enabled us to modify the process and pave the way to improve the business climate in Argentina from the start. This is what will encourage new investment in the medium term and what will enable our solid and balanced economic development, "he said. Francisco Uranga, Director General of Investment, Argentine Investment Agency and International Trade.
Meanwhile, for October, Investment Monitors revealed a total 23 ads worth USD 1,600 million. In terms of origin, the countries with the highest number of investment announcements that year were Mexico, Belgium and Portugal
In the third quarter, the flow of foreign investment immediately reached the level USD 3.15 billion, a 5% below from the same period the previous year, among them USD 2,100 million they reinvest profits, IDR 710 million contributions from shareholders and USD 340 million debt with a matrix.