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BusinessArgentinahttps://p.dw.com/p/5MyXp
Since Javier Milei took office, Argentina has seen a net loss of around 30,000 companies, especially in retail, transportation, real estate and industry.
Businesses blame the closures mainly on falling consumption and sharply rising operating costs, with electricity, gas, water and transportation becoming significantly more expensive.
More than 400,000 people have also left formal company employment, with some turning to self-employment or informal work.
Milei argues that the figures reflect a process of “creative destruction,” as new and larger businesses are emerging in sectors such as administrative services, hydrocarbons and mining.
However, official data indicates that this growth has so far failed to offset the companies and formal jobs being lost.
