LatinNews Daily - 11 May 2023

In brief: Argentina raises pensions

* Argentina’s Economy Minister Sergio Massa has announced an increase in pensions, starting from June. Massa made the announcement alongside Fernanda Raverta, head of the national social security administration (Anses), saying the increase, which would cost over Ar$250bn (US$1bn) and would benefit over 17m people. The increase will be of 20.92% over the next three months, increasing by Ar$15,000 in June, Ar$17,000 in July and Ar$20,000 in August, although it will decrease to Ar$5,000 for those who receive up to two minimum salaries. Massa said this will mean that the minimum monthly pension will be Ar$85,983. Raverta said that the latest change represented a 130% year-on-year rise in pensions and a 7% increase in real terms. The latest figures from Argentina’s national statistics institute (Indec) showed annual inflation in March was running at 104.3%.

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