The Government of Argentina will apply a 40% increase in public transport ticket prices of the metropolitan area of Buenos Aires after a non-binding consultation with citizens, it was reported on Thursday in the Official Gazette.
The value of transport tickets had been frozen since 2019 in the midst of a strong inflationary escalation during that period. This year the rise in the consumer price index could exceed 80% according to private estimates.
After the increase that will apply from August, the minimum bus passage it will cost 25.20 pesos (0.19 dollars), from the current 18 pesos (0.14 dollars), while train and subway fares will also be adjusted.
A resolution published in the Official Gazette clarifies that social benefits will be maintained for citizens with limited resources.
The rate changes seek to reduce the large subsidies to passenger transport with the aim of cutting the fiscal deficit that is hitting the country’s accounts in the midst of a financial crisis.
The government of the Peronist president Alberto Fernandez is immersed in a difficult economic situation that hits society, amid tensions in the government coalition.
