Argentina: Businessmen denounce that in 6 months Milei and Caputo destroyed 10,000 SME companies

Published at: 09/07/2024 11:11 AM

The Association of National Businesswomen and Entrepreneurs for Argentine Development (ENAC) publicly denounced that in 6 months Javier Milei and Luis Caputo destroyed 10,000 SME companies in the country.

In a statement published on July 9, ENAC explained that the data for the date consolidates a recession and an economic collapse similar to that of 2020, the widespread layoffs in the private sector reported by the Ministry of Labor of the Nation 69,000 (Mar-24).

Likewise, the letter details that the information published by the BCRA with 350,000 accounts for lower salaries, the information from the AFIP and the information from Radar PYME, clearly determine for the month of June 2024 a drop of 10 SMEs compared to December 2023, that is, in just 6 months.

“We warned the National Congress and the National Government that this was not the way to get out of Argentina's problems, they didn't listen, and now the damage has been done. This libertarian experiment is destroying 50 SMEs a day in Argentina without a plan or economic direction that generates certainty about the business climate in order to carry out our economic activity in peace”, reads the ENAC statement.

In this regard, he highlighted that while in Brazil President Lula da Silva creates the Ministry of SMEs, “in Argentina his counterpart Javier Milei destroyed 10,000 companies in just 6 months. The recession ordered by President Milei and executed by the indebted Minister of Economy, Luis Caputo, has rigorously gone from receiving a country that created 8,600 companies a year to one that destroys its equivalent in half the time.”

“The situation has become serious for the men and women who produce and provide work in Argentina. Brazil has the sixth world economy with 38 ministries. Talking about the State absent or present in the face of the ongoing SME genocide is clearly a sterile discussion given the concrete example of progress of our main trading partner”.

Finally, ENAC added that “Independence is defending SMEs and their workers, seeking to improve the well-being of the population as a whole, promoting a path that leads us to development, and that any cost of this process is borne by those who serve the Fatherland and not by those who serve the Fatherland. Just like 200 years ago, national values must emerge to defend our Homeland, our SMEs and our people. Organizing in self-defense will be the revolution of this time.”

Mazo News Team