The latest survey by the industrial federation revealed that nearly half of the entrepreneurs surveyed are facing a liquidity crisis that seriously complicates their daily operations and projects an uncertain scenario for the beginning of 2026. According to the data released, 47.5% of industrialists admitted to having difficulties in meeting at least one of their essential commitments, an indicator that reflects the exhaustion of the financial margin after months of falling consumption and restricted access to credit. This combination, they argue, leads to a vicious cycle that threatens to disrupt projects, halt works, and further weaken one of the economy's most sensitive sectors. Meanwhile, the government highlights fiscal adjustments and spending cuts as necessary pillars to stabilize the economic course. The most prominent case is that of a renowned winery that accumulated over 40 bounced checks for an amount exceeding 618 million pesos, an episode that impacted the entire vitivinicultural chain and exposed the financial fragility even of major players within their sectors. The situation is worsening among small and medium-sized enterprises (SMEs), the core of Argentina's private employment. In these cases, the financial structure is operating on the brink of collapse, with risks of bankruptcies, insolvency proceedings, or the paralysis of production lines. However, within the industrial sector, there is growing concern over the direct impact these policies are having on activity. The survey detected that 8.2% of companies are in a critical situation, acknowledging problems in meeting all payment items: salaries, taxes, services, and suppliers. The most frequent complications are concentrated in taxes and suppliers, two areas whose simultaneous pressure is cornering a significant part of the sector. The immediate challenge will be to prevent this liquidity crisis from leading to a broader process of closures, job losses, and a setback in strategic sectors for the national economic structure. Sector spokespeople warn that many SMEs are facing serious difficulties in sustaining contracts, meeting deliveries, and financing their operations. The convergence of all these factors creates a climate in which many companies see their operational continuity hindered, even though their traditional markets have not disappeared. The survey released by the industrial federation serves as a wake-up call regarding the real state of the productive economy. Its president warned that the system 'is starting to bend and complicate itself,' describing a scenario in which medium and small companies simultaneously face delays in collections, rising costs, falling demand, and reduced credit lines. For 29.3% of those surveyed, tax obligations have become an obstacle difficult to resolve, while 26.7% point to growing tensions with their supply chains due to delays or an inability to pay. The phenomenon is not limited to specific difficulties. The overall picture thus shows a deeper deterioration than reflected in official speeches, in a context where domestic consumption continues to fall and operational costs rise. A particularly eloquent sign of the difficult moment the industrial fabric is going through is the accelerated growth of checks rejected for insufficient funds. With high default rates, a sharp increase in bounced checks, and a deterioration in the payment flow affecting the entire chain, numerous analysts maintain that the industrial fabric is under extreme tension. Buenos Aires, December 7, 2025 - Total News Agency (TNA) - Argentine industry closes 2025 under a panorama that worries the entire productive sector: growing difficulties in meeting basic obligations, a notable expansion of rejected checks, and a financial deterioration affecting both large companies and the extensive network of SMEs that supports formal employment in the country. During the last quarter, banking entities registered an estimated 30% to 40% increase in this type of instrument, a figure that reveals the generalized lack of liquidity. The extension of payment terms by the state —which went from the usual 30 to 45 days to periods of between 60 and 90 days— added additional pressure on firms that depend on a fast turnaround of their operations to sustain minimum activity levels. For the Confederation of SME Builders, the picture is beginning to show signs of a rupture in the payment chain. The loss of purchasing power of domestic demand, the rise in energy costs, and the contraction in financing are creating an adverse ground that worsens with each monthly cycle of falling sales.
