The Commerce secretary who drives William Hang He reported that will continue with the Now 12 program launched in 2014. In that sense, the official statement explained that “in order to strengthen exchange rate stability the rates of the Now 12″ program are readjusted. From the ruling party they pointed out that “this measure will allow us to continue promoting the expansion of investment, production and consumption of families, while establishing harmonization with the rate structure of the system.”
A private report analyzes the cost of maintaining the Now 12 program
Through the resolutionNo. 490/2022the Secretary of Domestic Trade defined that the Annual Nominal Rate (TNA) for payments in 3, 6 and 12 fixed installments will be 42%, while for 18 and 24 fixed installments it will represent 49%.
“Is adequacy responds to the growth that the Now 12 Program has had and in view of its sustainability in accordance with the recent evolution of the monetary policy rates of the Central Bank of the Argentine Republic (BCRA) and to the policy of the National State of tending to the harmonization of interest rates”, they highlighted.
How much did the Central Bank raise interest rates for fixed terms
The initiative has objective to promote the consumption of nationally produced goods and services, through making purchases with a credit card, in 3, 6, 12, 18 and 24 installments and at a lower rate than the market rate. They also assured that “the program works 7 days a week and all products and services can be purchased online and in participating stores throughout the country.” They must display the logo of the program for the knowledge of consumers.
According to official data, among the most important items are appliances, appliances, computers, notebooks and tablets, mattresses, furniture, construction materials and tools, bicycles, clothing and footwear. In the first quarter of this 2022the program recorded operations by $411,677 million pesos with an average ticket of $17,585. 24.9 million purchases were made Among the best-selling items are clothing, appliances and construction materials.
MR / LR
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