Economic crisis protest from tradesmen and businesses in Argentina
In Buenos Aires, thousands of people were on the streets due to heavy debt burdens and businesses closing; President Milei, on the other hand, blamed feminists for the decline in birth rates.
Quick Look
- Thousands of tradesmen and business owners protested in Buenos Aires, the capital of Argentina, to react to the heavy debt burden and increasing company closures.
- President Milei targeted feminists at a conference.
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Why It Matters
In Argentina, households and businesses in the middle and lower-middle income group are facing increasing economic pressure and debt burden.
Thousands of people, including tradesmen and business owners, protested in front of the government building, Casa Rosada, in May Square in the capital Buenos Aires.
In the demonstration, which was also supported by unions and non-governmental organizations, they reacted to the heavy debt burden faced by households, especially in the middle and lower-middle income group.
Demonstrators participating in the action emphasized that the Argentinian people are increasingly forced to use loans to meet their daily needs such as food, medicine and basic services.
In the joint statement made by the parties, "The debt crisis in poor neighborhoods can no longer be postponed." The expression was used.
In the report of the think tank Fundar, based on May 2026 data, it was stated that 30 thousand 633 companies have been closed since Milei took office, which corresponds to 6 percent of the total companies.
While the report stated that company closures were the heaviest decline recorded in the first 30 months of a government, it was reported that 2 thousand 371 businesses were closed in May 2026, that is, an average of 76 businesses per day.
Argentine Economic Policy Center confirmed
Confirming the data that 30 thousand 633 companies were closed in another report, the Argentine Economic Policy Center (CEPA) noted that the largest loss was experienced in the trade sector with 8 thousand 408 businesses.
The trade sector was followed by transportation and storage with 6 thousand 733 business losses, real estate services with 4 thousand 98 business losses and manufacturing industry with 4 thousand 20 business losses.
According to data from the Central Bank of Argentina, the non-repayment rate in loans given to households increased from 2.5 percent in October 2024 to 12.8 percent in June 2026.
Argentinian leader targeted feminists
Speaking at the closing of the Council of the Americas Conference jointly organized by the Argentine Chamber of Commerce (CAC) and the US-based Americas Society in Buenos Aires, Milei reacted to feminists.
Blaming feminism for the decline in birth rates, Milei said, "We are paying a heavy price for the madness of green handkerchiefs (the symbol of the feminist movement and the struggle for legal abortion)." he said.
Milei, who argued that Argentina could not reach the growth and birth rate that would enable population renewal, announced that a musical event would be organized to celebrate the falling inflation.
Open Questions
- What concrete steps will the government take against the debt crisis?
- Will a support package be announced for closed businesses?
