Argentina’s GDP per capita is at levels similar to those of 2007. According to the latest report from the consulting firm Economía & Energía (ECEN), this index, which measures the country’s economic production over the total population, was the one that fell the most between 2011 and 2024 in the region, with the only exception of Haiti and without taking into account the collapse of the Venezuelan economy in the list.
In this way, the collapse is 9.8% of per capita income, at a rate of 0.8% per year. According to the text, Argentina’s fall is comparable to that of “poor or fragile economies worldwide that went through severe humanitarian crises.”
“Argentina is the only large country in the region, whose per capita income is lower today than it was more than a decade ago. Even so, it remains within the upper quartile of per capita income in the region,” highlights the technical bulletin.
ECEN also indicates that “the Argentine decline reflects an autonomous economic process linked to the persistent imbalance in its external sector.” Something that the authors of the book “Exporting more is not enough” (2024, 21st Century) illustrate with the metaphor of a “cracked bucket” of currency drain with the flight of multinational capital and the weight of fraudulent debt payment.
With Milei, a policy of freedom for speculators and financial scams, deregulation for transnationals and opening of capital was carried out that widened the crack. Thus he resorted to the (lead) lifeline of the IMF and the United States, which did not last long.
Despite the emboldening of the electoral victory and the improvements in financial indices as a result, economic contradictions persist. This month the Government faces maturities for $13 billion and in January for 4,000 million dollars
According to economist Martin Rappetti, director of the consulting firm Equilibra, Milei is increasingly further away from meeting the IMF’s reserve accumulation goal. The same – in net terms – would be below -16,000 million dollars.
The BCRA’s net reserves are negative by US$ 16,000 million. It is a very low level, far below the goal of the agreement with the IMF (- US$ 3.2 billion). A sustained reserve accumulation policy is crucial for macroeconomic stability. pic.twitter.com/DCqTjr47We
— Martin Rapetti (@mgrapetti) December 1, 2025
Daily layoffs and company closures: the complicity of the CGT as a Christmas gift
Plant closures, layoffs and suspensions are becoming more acute. In the last month they occurred in Whirlpool, Essen, Georgalos, TN Plata, Dana, Frávega, Luxo, Vulcalar, Yaguar, Textilana, La Suipachense, Electrolux, Newsan, Easy, Globant, Salesforce, Ualá, among the main ones. Highlighting the transversality of the productive sectors.
Added to the layoffs and suspensions are the salary arrears that worsen with the new official increases of the month: rent, prepaid, buses, subway, electricity, gas, water and fuel rates.
The struggle of the Garrahan Hospital workers, who obtained a 61% increase from the Government, showed that fighting is useful. The leadership of the CGT in a truce allows the advance of the right with adjustment and the assembly of an anti-worker rights reform. An urgent fight plan with active strike and mobilization is necessary to defeat Milei and the IMF’s plan.
Source: www.laizquierdadiario.com
