How much does a dozen empanadas come out? It was the question of these days and different answers circulated. The “debate” originated from the statements of actor Ricardo Darín in relation to high prices in Argentina. The Minister of Economy and the Trolls in Defense of Libertad advanced came out to respond and sought to ridicule the statement of the protagonist of El Eternalauta. While Luis Caputo polemiza about the price of empanadas below reality is another, there is a strong deterioration of the living conditions of workers, retirees.
An indicator of this reality is Increase in household indebtedness. According to a report by the Ecogo consultancy, based on data from the Central Bank, The debts of the families already reach 5% of the GDP, the highest level since 2018.
A part of the increase in credit to families is explained through the effect of virtual wallets that offer credits to people who did not access bank loans although at higher interest rates.
As of March 2025, the total household credit represents 5% of GDP and that percentage of the bank is 3.8% and the non -banking, (virtual wallets) 1.2%.
The consultant’s report indicates that “the level of non -bank credit is already 18.2% higher than that reached in February 2022 and is only 2.2% lower than March 2018. To continue with that dynamic, the peak would be exceeded in April.”
The consultant details that “the levels of indebtedness of families have been rebounding, showing increases both in relation to the size of the economy and to the mass of income. These levels remain low in retrospect but have greater weight in formal income.”
In terms of consumer loans, non -bank financing means 23.9% of the total. In this category, 10.4% of the credits are in default. There was an increase in a percentage point compared to the previous month, while three percentage points are located above the minimum reached in November.
In the same sense, a report made by the Institute of Social and Economic Statistics and Trends (IETSE) warned that In May 2025, 91% of households had some type of debt And he pointed out that “the growing use of credit to meet basic needs such as food, reveals an impoverishment of households that goes beyond the economic situation.” The respondents detailed that Most of the debt consists of its expenses with the credit card (30.5%) and expenses with credit card They are mainly allocated in food (58%)clothing (15%), fuels (11%), taxes and services (8%) and appliances (5%).
Household indebtedness occurs in a context of Salaries and Misery Retirements. According to INDEC data, the wages of workers registered in March lost 6% in relation to November 2023, that is, under the government of Milei. The fall is deeper for state workers. Meanwhile, in 2024 the purchasing power of average retirement fell 10.2% per year, while minimum retirement lost 18.7%, being at a level coinciding with that of 2001, according to figure data. The Government adjusted wages and retirements and steps the joint. Arriving at the end of the month is an impossible mission for the working class, but Caputo and Milei prefer to continue talking about the price of empanadas.
Source: www.laizquierdadiario.com
