Argentina says aims to reduce power generation subsidies by $4 bln

viernes 29 de enero de 2016 16:32 GYT
 

BUENOS AIRES Jan 29 (Reuters) - Argentina aims to reduce subsidies for electricity generation by $4 billion this year, Energy Minister Juan Jose Aranguren said on Friday, as the country seeks to reduce its gaping fiscal deficit.

"The subsidies for the generation of electricity in 2015 was around $10 billion, which is just under 2 points of gross domestic product," Aranguren told a news conference. "With our new tarif policy...we aim to save $4 billion."

Argentina has spent $51 billion on power subsidies since 2003, Aranguren said. (Reporting by Buenos Aires newsroom; Editing by Diane Craft)