UIA Questioned Economic Policy on Industry Day

At the event marking Industry Day, held at the Laboratorios Elea plant in Malvinas Argentinas, the head of the Argentine Industrial Union, Martín Rappallini, argued that assessing the economy solely through inflation is insufficient and that attention must also be paid to the level of productive activity. He noted that several sectors are facing serious difficulties and that many companies are operating below their installed capacity, therefore calling for a more comprehensive approach to the economic situation.

Prior to his speech, the entity's vice president, Guillermo Moretti, had been far more critical in statements to El Destape, questioning the technical profile of economic authorities and holding them responsible for increased indebtedness of the country. He also warned about what he considered a deindustrialization policy, linked to cuts in technical education, universities, and scientific agencies such as CONICET and INTI. Additionally, he raised doubts about the current economic model's capacity to include the entire population, estimating that a significant portion of Argentines is left out.

The event was attended by around 200 industrial entrepreneurs, along with officials such as the mayor of Malvinas Argentinas, Leonardo Nardini, and the Secretary of Production Coordination, Pablo Lavigne, as well as senator Flavia Royón and the heads of the Rural Society and the Construction Chamber.

In his speech, Rappallini proposed a seven-pillar framework to sustain the transition toward a more open economy: credit reactivation and activity, improved competitiveness and reduction of the "Argentine cost," curbing unfair competition, energy matters, loan defaults, infrastructure, and modernization of labor regulations and litigation procedures.

The leader explained that the decline in industrial activity directly impacts employment, consumption, investment, and tax collection, also affecting overall macroeconomic stability. According to data he presented, industrial output is 10% below 2022 levels, with declines of between 25% and 30% in some specific sectors. He also indicated that since August 2023, the sector has lost around 90,000 registered salaried jobs, and stressed that commercial opening mainly impacts activities that produce tradable goods and services—that is, much of the industrial base.

Based on information from Infobae.