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[BUSINESS] · Argentina · 100 sources

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Argentine industry warns of crisis as production and jobs fall

During Industry Day celebrations in Argentina, the Unión Industrial Argentina (UIA) and various business associations issued urgent warnings regarding the country's manufacturing sector. UIA President Martín Rappallini reported that industrial production has fallen 10 percent compared to 2022 levels, with some sectors experiencing declines of up to 30 percent. He also noted that approximately 90,000 registered industrial jobs have been lost since August 2023.

To address the crisis, the UIA proposed several measures, including the creation of an 'industrial RIGI' and a Federal Industrial Fiscal Pact to reduce taxes and promote competitiveness. The organization also called for improved access to credit and more stable energy prices. In La Rioja, the Unión de Industrias Riojanas (UNIR) reported a similar trend, noting the loss of 3,000 industrial jobs and the closure of eight companies.

Political tensions emerged as Buenos Aires Governor Axel Kicillof criticized President Javier Milei's economic model, accusing the administration of actively deindustrializing the nation. Conversely, Economy Minister Luis Caputo defended the government's approach, arguing that the administration must prioritize the interests of all Argentines and that economic growth will eventually be driven by exports.

Entities

Almacenes El Rey · Argentina · Axel Kicillof · Elea Laboratory · Guillermo Moretti · Javier Milei · Luis Caputo · Martín Rappallini · Pablo Lavigne · Rupert Araya · Terrazas Lindora · Union Industrial Argentina

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Charla con Gustavo [9dejulio.diariotiempodigital.com]
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