Read more: Energy Minister Aranguren Justifies Utility Bill Increases Before CommitteeThe government still hopes to eventually implement the hikes, which it deems crucial to fixing the country’s energy crisis and to improving the economy as a whole. According to Clarín, different key officials last week reached a preliminary agreement to increase gas bills by 300 percent. Electricity, gas and water subsidies represent “roughly 75 percent of the large fiscal deficit left by the former administration,” according to La Nación. Electricity bills rose by 40 percent, while gas bills rose by less than 200. According to these figures, had the increases been applied, subsidies would have gone from representing 89 percent of the cost to generate energy in Argentina to 70 percent.
Source: The Bubble August 29, 2016 19:07 UTC