How much collection will lose the government with GDP due to the retentions
The recent announcement of the Government On the temporal reduction of agricultural exports withholdings, it has generated a stir in the country’s economic and political field. This measure, which will be implemented by a decree, will have a significant fiscal cost, equivalent to 0.13% of the internal gross product (GDP), which represents approximately 800 million dollars.
The decision of Government to reduce retentions occurs in a context of pressure by the agricultural sector, which has faced economic difficulties due to drought and fall in international prices. The Minister of Economy, Luis Caputo, has been in charge of formalizing the details of the decree that establishes the reduction of export rights to agricultural products.
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