The Minister of Government of the Province of Buenos Aires, Carlos Bianco, during his usual press conference, stated that the country is going through a calamitous economic situation since Javier Milei assumed the presidency. Bianco supported his statements with data from various entities, including INDEC, to highlight the marked declines that have been recorded since December 2023.
Regarding the mentioned indicators, the Buenos Aires official emphasized industrial activity, where a decline close to 7% is evident, accompanied by a collapse of 26.4% in the construction sector. He added that the decrease in construction activity has reached nearly one-third compared to the same period of the previous year.
Bianco also pointed out that the drop in employment has intensified, with 10,200 fewer jobs compared to 2023, of which more than 8,000 correspond to the private sector. In the metallurgical field, he mentioned that half of the machines used by companies are inactive due to low demand and reduced consumption.
Regarding the automotive industry, the minister reported that one of the most important brands in the country is offering voluntary layoffs for 120 employees due to the crisis in the sector. In terms of consumption, he noted a historic drop of 12% in September, backed by a report from the Argentine Confederation of Medium Enterprises (CAME) indicating that SMEs have experienced a decline in all sectors.
To conclude, Carlos Bianco referenced a study from the University of Belgrano that revealed that 2 out of 10 people had to reduce their food expenses, in addition to highlighting that investment in education has decreased by 40%, marking the largest adjustment since 1992 and the second largest in the entire democratic history of the country, dating back to 1983.
