Lo escuchaste en No Te Duermas
Debora Giorgi, economist, secretary of production for the La Matanza district, spoke about the inflation figures, the strong recession and the fall of industries
During an interview on the radio program No Te Duermas, hosted by Claudio Kapeller and Oscar Pettinato, the interviewee said: “I saw the expectations of something recognizable, which is a strong drop in the inflation rate. I think we also have to see the flip side of this phenomenon and how this anti-inflationary policy (if it can be called a policy, if it can be called in any way) of President Milei and Minister Caputo has as its flip side a deterioration of economic activity, a fall in production, sales, purchasing power of wages, and pensions that is unprecedented,” she said.
“This clearly shows a huge redistribution of income in society from basically extractive sectors. The rural sector is showing a better situation compared to those sectors that drink, whose objective is the internal market, which is clearly more than seventy-five, eighty percent of the destination of the work of our industrial and commercial SMEs,” he said.
In this context, he added: “This is a phenomenon that, in terms of its speed and depth, has not been seen in Argentina in years.”
Data at the country level – The IPI
At the country level, Débora Giorgi pointed out: “The industrial production index in the Argentine Republic came out, the IPI that measures the industrial production of all of Argentina made by the Indec in June 2024, is the lowest in the entire decade, a tenth lower than the level of production in June of the pandemic.”
“Today you have an official average country industrial production level from Indec lower than what we had in June 2020,” she admitted.
In response to the reference of one of the drivers about that; We are very free, but worse than before, the interviewee said: “We are very free, but according to UNESCO, one and a half million children and adolescents go to bed hungry because they do not have their night’s food.”
Fall of the industry
“Milei’s six months were a fall of the industry, compared to that 2023 that today seems like we were living in the worst of hells.” That 2023, which according to the national government’s story was the worst of hells, when you compare this year of the industry, we are twenty-one percent down, we have lost a fifth of the industrial heritage, that takes time to recover.”
“Falls of this magnitude are not recorded in the indexes for decades. Except for the first and second month of the pandemic, the only factories that were open were those of food, medicine, cleaning products and personal hygiene products.”
Débora Giorgi also referred to the number that the polls give on the support for the current government, of which she pointed out:
“I am not very devoted to the polls, I listened to our governor Kicillof in La Rioja at the swearing-in of that provincial advance constitution together with more than one hundred mayors, he raised this issue of the polls, where he said, three months before the end of Governor Vidal’s government, everyone said that she lost by six, seven points, but she won in a very forceful way, that is why I am not very devoted to the polls.”
“I also believe that in society we have not been able to offer as a political space those issues that were expected of us, and this is also true.” Clearly, also perhaps the disappointment (and as it should be, because the people are not wrong), the sadness and if we do it is greater, I would say that it combines both things.”
“In La Matanza, in July, sales fell by thirty-six percent, sixty percent of businesses laid off workers. We have a characteristic as a district: first, we have smaller productive societies than the country average,” he added.
On the subject, he explained: “Our SMEs are SMEs and have fewer workers, and so do our businesses. Local commerce still pushes and pulls. There is still a presence in the neighborhoods of workshops, small factories, and small businesses, so this type of policy clearly has no way to protect itself.”
“It is said that since Milei arrived, registered private wages fell by thirteen percent and pensions by eighteen percent in real terms, an outrage, but in Matanza it is worse because these are average numbers, so Milei’s policy scheme makes the deterioration hurt more for those who earn less.”
“Because those who earn less are still facing electricity or gas rates that increase four or five months, so those who earn less are facing the increase in public transportation”, she stressed.
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