UIA Warns of Industrial Decline and Job Losses During Industry Day Event

The Argentine Industrial Union (UIA) reported that the industrial sector has lost 90,000 registered salaried jobs since August 2023. During an Industry Day event held at the Laboratorio Elea plant in Malvinas Argentinas, UIA President Martin Rappallini stated that production levels are currently 10 percent lower than they were in 2022, with some sectors experiencing declines between 25 and 30 percent. Rappallini argued that economic success cannot be measured by inflation alone and must include levels of activity. He proposed a seven point plan to create a bridge toward a competitive economy, focusing on credit, the reduction of the Argentine cost, combating unfair competition, energy prices, debt repayment, infrastructure, and labor modernization.

While Rappallini focused on a systemic transition, UIA Vice President Guillermo Moretti issued a sharper critique of the administration. Moretti accused the government of pursuing a policy of desindustrialization and claimed that officials do not understand the country or the industry. He specifically criticized Economy Minister Luis Caputo, describing him as a trader who does not know what a lathe is. Moretti expressed concern that the current model of labor precarization cannot support the population and noted that many companies have been forced to close.

Reports on the event differed regarding government attendance. Some sources stated that no representatives of the Executive Power were present, while others noted the attendance of the Secretary of Production Coordination, Pablo Lavigne. Center right sources focused on the specific economic demands and the data regarding job losses and production drops. Center left sources framed the event as taking place within a negative scenario, emphasizing the tension between the administration and the industrial sector, as well as the impact of import openness on textiles and steel.