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Montevideo, August 18th 2022 - 08:06 UTC
Argentina's industrial output contracted 6.7% in April compared with the same month last year, the country's newly revamped Indec statistics agency said, punctuating the effect of recent fiscal austerity measures. Read full article
Decreased domestic demand and the opening of imports are beginning to show the consequences of the economic measures taken by the current Argentine government.
As many as 1,700 small and medium-size construction, manufacturing, tourism and retail companies, many of those hurt by imports and by reduced demand.
With a weaker domestic economy, the bets of the government are on its promised rain of investments, which is not happening.
No a healthy way of consolidating any economy, and a sure path to over indebtedness.
@1. Tough. With all that your country has visited on the world, it's time your country learned to suffer. 255 British servicemen killed. Falkland Islanders subjected to argie war crimes. Failure to pay debts. Let your country learn to do without. It's what you tried to force on the Falkland Islands. Fortunately, almost anyone British is better than you. I wonder if you think that I would care if argieland was subject to countrywide famine, malnutrition, starvation. I wouldn't. Argieland needs to spend the next 30+ years in abject poverty.
He [Macri] also ditched agricultural export taxes...
Deliberately misleading reporting by Mercopiss once again.
There are many reasons for the downturn in industrial production, and not all of it can be explained by generally lower demand in the region. Part of the problem with Argentine industry is that it's mostly technologically backward, and tends to be a place where things designed and manufactured elsewhere are merely assembled. But Argentina's assembly industry operates with very high costs and quite low efficiencies so it is generally noncompetitive (average loaded cost for argie assembly worker is over US$20/hour, in part due to high benefit compensation). And because of regional trade agreements, the other countries in the region are paying the price for lower-quality, higher-priced items that are noncompetitive in other market areas, rather than having the potential benefits of freer trade with manufacturers outside of South America.
The general decline in Argentina right now is also seen in the construction industry. There are about 50,000 fewer construction workers employed here now, versus a year ago.
So long as Argentistan is run by argentos in the same old argento manner, it will continue to be a failed and increasingly failed state.
#3 Marti Llazo
That Argentina should push its wages down to suit employers looking at wider profit margins is a very backward proposition.
It would be like asking U.S. workers to lower their hourly wages so that employers don't migrate to third-world countries where they pay peanuts and can ignore workplace safety.
Yes, Mauricio Macri's backward policies are rapidly pushing the country into recession; not only construction has taken a hit with 700 companies closing doors; manufacturing, tourism, retail and services are also taking a hit with another 1,000 companies shutting down.
”...a failed and increasingly failed (sic) state.”
Marti's last paragraph betrays his deep bias, prejudice and ignorance.
Poor individual, venting his personal frustrations and trying to feel better by insulting a country he wants to see as inferior.
So that you know, Marti, Argentina is a country full of contradictions but fully alive--too complex for your level of reasoning.
@4 Mauricio Macri's backward policies are rapidly pushing the country into recession...
The country has been in recession for some time now. Why can you not understand this?
Reekie, think of these objective observations as a sort of economic analysis of the sort that might help prospective foreign investors recover their sanity and save them from the sort of losses that one expects as inevitable when looking at Argentistan. Besides, the revelations of the increasingly overcompensated labour force, the noncompetitive nature of argento industry, its technological atraso, its world-class corruption, the uncontrolled levels of inflation, and the habitual mismanagement of its monetary and economic matters -- these are hardly the result of mere personal opinion, but are to be found in the serious media reports that characterise the country. You acknowledge that the country is alive but fail to understand that it is a cancer that is alive. And you seem to have no problem confirming these self-destructive shortcomings that are mentioned, but simply don't like to be reminded of them.
You really need to visit Argentistan some day, to look closely at the effects, and smell the burning tyres.
No surprises Argies economy is continually in decline.
Its a good thing. No economy, no military, no 'malvinas'.
More good news for Reekie about the live nature of Argentistan that he wants us to believe in.
Inflation is ALIVE and well. 44 percent over the past year.
No, wait, it's 44.6 percent over the past year, if we are to believe today's media reports here.
Tell us again, Reekie, how well Argentistan is run when it's managed by argentos.
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