Buenos Aires Governor Axel Kicillof says Milei’s policies trigger industrial collapse and massive job losses

Governor Axel Kicillof of Buenos Aires Province warned that Argentina’s economy is in a historic crisis since President Javier Milei took office. He told a business round‑table that “more than 300,000 formal jobs have been lost, 26,000 companies have closed and families are sinking deeper into debt,” adding that “all sectors live a catastrophe of historic magnitude.”

Data released by the provincial Economy Ministry showed a 6.9% drop in the province’s Manufacturing Index in Q1 2026 versus the same period in 2023, with sharp falls in metal (‑36.5%), non‑metal minerals (‑25.2%), rubber and plastics (‑24.5%) and vehicle production (‑18.5%). Kicillof also highlighted that 500‑600 interior industries were forced to halt operations because of a shortage and price surge of liquefied natural gas, blaming the national government’s decision not to complete supply projects.

Other officials echoed the concerns. La Ríoja’s social development minister noted a rise in street homelessness and the opening of night shelters, linking the trend to years of economic policy under Milei. Economist Diego Giacomin described the government's handling of dollar purchases and debt as “transferring inflation and devaluation to the future.”

The governor’s remarks were part of a broader political push, including new head‑of‑government Diego Santilli’s call for Milei’s re‑election and criticism of the national agenda as “an exclusionary model.” The combined statements portray a deepening economic emergency affecting industry, employment and social welfare across Argentina.