Sergio Massa will announce an increase in credit card limits: how much will it be

The Minister of Economy, Sergio Massa, will announce tomorrow new measures aimed at strengthening credit to the private sector and improvements in the regulatory framework, with the objective of sustaining consumption, increasing investment and reducing damage related to drought.

Sources from the Palacio de Hacienda announced today that the announcements will include a 30 percent increase in the amounts of purchases in installments with credit cards and 25 percent for payment operations in a single installment. The margins for advances in checking accounts for MiPymes will also increase by 25 percent.

Meanwhile, those who pay cWith a credit card they will be able to finance their consumption with a higher limit, both in installments and in cashdetailed the same sources.

“These measures will mean an increase in credit available to families and companies”, they asserted from the Economy portfolio. In the case of families, the benefit will come from having greater access to credit on their credit cards.

In this way, based on the numbers handled by the Ministry of Economy, More than 20 million Argentines will be able to buy 30% more, since for every $10,000 pesos available to buy in one payment, 3,000 more pesos of availability will be added.

In the case of a family that has With 50,000 pesos of credit on your card, you will now have 65,000 pesos, based on the calculations advanced by the sources of the Palacio de Hacienda.

This increase will allow families to access more assets with the Ahora12 Plan. «This effort must be complemented with actions of the State and political leaders of all sectors, which allow the macroeconomic ordering necessary to achieve the reduction of inflation. the sources said.

To this will be added changes in the regulatory framework in order toe Promote the channeling of society’s savings towards credit, efficiently and avoiding the generation of distortionsespecially those generated by setting minimum rates, which will contribute to improving financing conditions for companies and individuals.