{
  "id": 393484,
  "title": "A stable dollar isn’t enough: Milei’s pressing economic problems",
  "url": "https://urgent.news/2026/08/09/a-stable-dollar-isnt-enough-mileis-pressing-economic-problems-393484",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-09T16:28:35.000Z",
  "source": {
    "name": "Buenos Aires Herald",
    "slug": "buenos-aires-herald-buenosaire",
    "url": "https://buenosairesherald.com/economics/a-stable-dollar-isnt-enough-mileis-pressing-economic-problems"
  },
  "original_language": "en",
  "account": "Argentina's economy has faced significant challenges under President Javier Milei's administration, with the stability of the U.S. dollar no longer being the primary concern. Inflation has decreased slightly, yet remains high compared to neighboring countries. However, this seemingly positive sign has not shielded the country from economic troubles, particularly in sectors that directly contribute to domestic consumption.\n\nManufacturing, construction, and retail are the hardest-hit areas, and they collectively account for nearly 38% of employment in Argentina. Numbers from the national statistics agency (INDEC) show that industrial output dropped by 7% between 2023 and 2026, with the manufacturing sector suffering the most dramatic decline. Notably, tire manufacturer Fate, founded in 1940, has recently closed its doors, symbolizing the struggle faced by the country's industrial base. The administration's decision to halt public infrastructure spending has also negatively impacted construction, with activity falling 20% since Milei's inauguration.\n\nRetail, too, has been struggling, with sales falling by 8.47% between 2023 and 2026, and the decline being even steeper among small businesses. The government maintains that this drop is due to changing consumer habits, particularly the rise of e-commerce, but data from Scentia, a private consultancy, shows that despite a 34.8% increase in online purchases during the first half of 2026, overall consumption is still declining by 2.9% year-to-date.\n\nThe government's optimism lies in the rapid growth of extractive industries, such as mining and oil, which are expected to create new job opportunities in the long run. Predictions suggest that industries like mining could attract millions of new residents to regions like Neuquén, Catamarca, and San Juan. However, the current situation has led to the closure of numerous companies, resulting in a 28,262-company decline since Milei's administration began, or 5.5% of the country's businesses. This decline has contributed to rising unemployment, with the official unemployment rate reaching 7.8% in the first quarter of 2026, up from 7.7% in the same period a year earlier.",
  "summary": "As sectors from the real economy continue to slump, informal work, unemployment, and debt delinquency are rising La entrada A stable dollar isn’t enough: Milei’s pressing economic problems se publicó primero en Buenos Aires Herald .",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Buenos Aires Herald",
        "title": "A stable dollar isn’t enough: Milei’s pressing economic problems",
        "url": "https://urgent.news/2026/08/09/a-stable-dollar-isnt-enough-mileis-pressing-economic-problems",
        "published": "2026-08-09T16:28:35.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}