CFK announces increases in universal child allowance

President Cristina Fernández de Kirchner announced on Wednesday afternoon a 25.9 percent rise on the universal child allowance, going from AR$270 to AR$340 pesos.

The percentage is similar to the inflation rate considered by private consulting agencies.

Speaking again in a televised speech, the Head of State said the increase would signify a jump from AR$5.2 billion pesos to AR$29.3 billion in welfare resources and urged supermarkets not to increase prices anymore.

She also said the increase is comparable to spending a 2 percent of the GDP.

“We will ask all supermarkets and price negotiations who took part in all collective bargaining processes not to increase basic food products,” she said.

Fernández de Kirchner complained that every time the Government announces a price increase, supermarkets increase prices as well.