Milei announces export tax cuts for Argentina’s main crops

“We are going to lower export taxes on wheat and barley from 7.5% to 5.5% starting in June 2026,” Milei said.

“But not only that. It would be unfair if we forgot about soybeans. And starting in January 2027, depending on how tax revenue performs, we will lower them by between a quarter point and half a point per month, continuously through 2028,” he added. He said the plan would depend on the continuity of his administration, in reference to a possible reelection bid in 2027.

He also announced that export taxes will be lowered for the automotive, petrochemical and machinery industries.

Milei mentioned the benefits a day after Indec reported that Argentine exports reached a “historic record” of US$8.914 billion in April.

Indec also reported on Thursday that Argentina’s economic activity grew 5.5% year on year in March.

Since taking office in December 2023, Milei has pursued a policy of sharp spending cuts that allowed him to close his first two years in government with a surplus in public accounts.

“We will continue reducing the size of public spending so we can return to decent Argentines the money that belongs to them — so the state shrinks and the market grows,” he said Thursday at the Buenos Aires Grain Exchange.

In pursuit of fiscal balance, Milei carried out deep adjustments in areas such as health, education and science.

Source: rfi

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