Argentina Business Leaders, Unions Protest Milei After 30,000 Companies Close
The economic crisis once again brought thousands of Argentines onto the streets of Buenos Aires this Thursday, in a day of protests whose main demands centered on household debt, the consequences of President Javier Milei’s austerity policies, and the closure of more than 30,000 companies since late 2023. The demonstrations took place in downtown Buenos […]
In Buenos Aires, Argentina, business leaders and unions staged a protest against President Javier Milei in response to the closure of over 30,000 companies since late 2023, according to Hernán Vitenberg's report on CC BY-SA 4.0. The demonstrations took place in downtown Buenos Aires, with business owners and workers joining forces to oppose the government's austerity policies.
The protests coincided with National Businessman’s Day, a time when business representatives gathered to express their concerns about the deteriorating productive activity. Data from Fundar revealed that 30,633 companies had been lost since Milei took office, equating to around 6% of the total. In May alone, 2,371 businesses closed, averaging 76 per day.
Small and medium-sized businesses, along with unions and social organizations, demanded specific measures to protect them, urging Congress to pass an Emergency Law for Small and Medium-Sized Businesses. The protests highlighted the growing indebtedness of households, particularly among lower- and middle-income sectors, as families increasingly turned to credit to cover basic expenses.
President Milei defended his economic program at the Council of the Americas, asserting that his policies were necessary to stabilize the Argentine economy.
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