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- October 13, 202618°
- BIST10012,241-0.20%
- USD49.34+0.24%
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- INTEREST37.00%-1.00
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- October 13, 202618°
Argentine shopkeepers protest in Buenos Aires as 30,633 companies shut down
Thousands of shopkeepers and business owners protested in Buenos Aires over the growing debt burden and difficulties accessing basic necessities. Reports say 30,633 companies have shut down since Milei took office, while the delinquency rate on household loans rose from 2.5% to 12.8%.
Thousands of shopkeepers and business owners held a protest at May Square in Buenos Aires, the capital of Argentina, in front of the government building, Casa Rosada. Trade unions and civil society organizations supported the demonstration, where the heavy debt burden facing households, particularly those in the middle- and lower-middle-income groups, was raised.
Protesters said people in Argentina are increasingly forced to rely on credit to afford daily necessities such as food, medicine and basic services. A joint statement said the debt crisis in impoverished neighborhoods could no longer be postponed.
30,633 companies shut down
According to a report by Fundar based on data from May 2026, 30,633 companies have shut down since Javier Milei took office. The figure corresponds to approximately 6% of all companies in the country.
The report described the company closures as the steepest decline recorded during the first 30 months of a government. It said 2,371 businesses closed in May 2026, bringing the daily average to 76.
The Center for Argentine Economic Policy also confirmed the data showing that 30,633 companies had shut down. The largest losses occurred in the trade sector, with 8,408 businesses closing, followed by 6,733 in transportation and storage, 4,098 in real estate services and 4,020 in manufacturing.
Household loan delinquency rises
According to data from the Central Bank of Argentina, the delinquency rate on loans to households rose from 2.5% in October 2024 to 12.8% in June 2026.
Milei comments on feminism
Milei spoke at the closing of the Council of the Americas Conference, organized in Buenos Aires by the Argentine Chamber of Commerce and the US-based Americas Society. Blaming feminism for the decline in birth rates, Milei said the outlook represented by green scarves—the symbol of the feminist movement and the campaign for legal abortion—had imposed a heavy cost on the country.
Milei argued that Argentina had failed to reach the growth and birth rates needed to maintain population replacement. He also announced that a musical event would be held to celebrate falling inflation.
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