As part of President Mauricio Macri's bid to make Argentina more competitive on the global energy market, the country's government may enact a significant natural gas price increase for consumers. An exact figure has yet to be announced, but according to an Oct. 5 report by Ambito Financiero, the price appreciation will likely be around 40 percent and could take effect Dec. 1. Officials will hold public hearings Nov. 13-17 to determine the exact percentage. Increased energy prices are part of the government's broader economic policy to liberalize the Argentine economy. The government has gradually lifted price controls, regulations, and trade barriers in an effort to attract more foreign investment, especially to the energy sector. Additionally, Buenos Aires has reduced subsidies for public utilities and transportation in an attempt to tame its fiscal deficit, projected to reach more than 4.2 percent of its GDP this year.