In Argentina, Life is a Constant Struggle Under Milei's Austerity Measures
Buenos Aires - Francisco Jiménez spends over eight hours a day riding through the streets as a delivery app rider. Yet, despite his tireless efforts, he struggles to make ends meet. Next month, he will be forced to leave his rented house and move into his mother-in-law's flat due to unaffordable rent.
The 32-year-old expressed frustration with the economy, which he says is "complicated" and affects his daily life. As a single breadwinner for his three growing children, he feels overwhelmed by their increasing needs. "Things keep getting more expensive," he said.
In last Sunday's midterm elections, Jiménez voted for president Javier Milei's party, La Libertad Avanza (LLA), which won by a wide margin despite economic challenges. The US president announced a $40 billion bailout for the country and made continued aid conditional on the LLA's victory.
Jiménez admitted that Argentina is not doing well under Milei's leadership. "We're not doing very well at the moment," he said.
The nearly two-year-old government, led by an economist and former TV pundit, launched a deep austerity plan to curb inflation, freezing wages, pensions, halting public works, and slashing subsidies. In an attempt to boost sales in his mobile phone shop, Francisco Pedrosa started selling perfumes and incense but admitted that the middle class no longer exists - customers practically disappear by the 15th of the month as many people's salaries have run out.
The president has relied on international loans, including a $20 billion loan from the International Monetary Fund and a $40 billion bailout from the US. He lifted restrictions and lowered tariffs on imports but drove domestic industry into a "great depression," according to textile sector head Luciano Galfione.
Textile manufacturers face two challenges: reduced purchasing power and more affordable imported products, which have become competitive due to the strong dollar. Domestic wine sales fell by 17.1% in August, and export volumes were down 8.4% from last year.
The economic downturn, corruption allegations, and the president's admission of surprise at the election result led many to question Milei's leadership.
A recent report stated that the textile sector alone has lost over 300 companies and 12,000 jobs since Milei took office. Professor Roxana Maurizio said that when formal jobs are lost, informality increases, and half of these workers don't earn enough.
The president's victory was largely driven by factors such as inflation control, the rejection of the opposition, and fears of losing the US bailout. As a result, the government party now holds the largest bloc in Congress but falls short of the minimum majority needed to pass reforms.
Milei faces significant challenges ahead, including fixing the economy when it has been in disarray for years.
Buenos Aires - Francisco Jiménez spends over eight hours a day riding through the streets as a delivery app rider. Yet, despite his tireless efforts, he struggles to make ends meet. Next month, he will be forced to leave his rented house and move into his mother-in-law's flat due to unaffordable rent.
The 32-year-old expressed frustration with the economy, which he says is "complicated" and affects his daily life. As a single breadwinner for his three growing children, he feels overwhelmed by their increasing needs. "Things keep getting more expensive," he said.
In last Sunday's midterm elections, Jiménez voted for president Javier Milei's party, La Libertad Avanza (LLA), which won by a wide margin despite economic challenges. The US president announced a $40 billion bailout for the country and made continued aid conditional on the LLA's victory.
Jiménez admitted that Argentina is not doing well under Milei's leadership. "We're not doing very well at the moment," he said.
The nearly two-year-old government, led by an economist and former TV pundit, launched a deep austerity plan to curb inflation, freezing wages, pensions, halting public works, and slashing subsidies. In an attempt to boost sales in his mobile phone shop, Francisco Pedrosa started selling perfumes and incense but admitted that the middle class no longer exists - customers practically disappear by the 15th of the month as many people's salaries have run out.
The president has relied on international loans, including a $20 billion loan from the International Monetary Fund and a $40 billion bailout from the US. He lifted restrictions and lowered tariffs on imports but drove domestic industry into a "great depression," according to textile sector head Luciano Galfione.
Textile manufacturers face two challenges: reduced purchasing power and more affordable imported products, which have become competitive due to the strong dollar. Domestic wine sales fell by 17.1% in August, and export volumes were down 8.4% from last year.
The economic downturn, corruption allegations, and the president's admission of surprise at the election result led many to question Milei's leadership.
A recent report stated that the textile sector alone has lost over 300 companies and 12,000 jobs since Milei took office. Professor Roxana Maurizio said that when formal jobs are lost, informality increases, and half of these workers don't earn enough.
The president's victory was largely driven by factors such as inflation control, the rejection of the opposition, and fears of losing the US bailout. As a result, the government party now holds the largest bloc in Congress but falls short of the minimum majority needed to pass reforms.
Milei faces significant challenges ahead, including fixing the economy when it has been in disarray for years.
He's working 8 hours a day and still can't afford rent 
This is crazy...the guy voted for Milei thinking he'd improve their lives, but it seems like the opposite is happening 
. And it's not just him, many people are struggling due to the economic situation.
. I think the US bailout is helping, but only for a short-term fix.
. Will there be any changes to the austerity measures, or is it just business as usual?
what kind of leader does that kinda thing? 
milei needs to get real about the economy fam 
it sounds like things are super tough for everyday ppl right now 
.
. The middle class is basically non-existent, and it's not just the economy – the whole system seems to be broken 
. It's like the country needs some serious reform, but no one's talking about it 
. Anyway, I'm keeping an eye on this situation, and if things don't change soon, we might have a real crisis on our hands 
. I think the LLA party promised a lot, but it seems they didn't deliver on the promises, at least not yet 
.
. The fact that the middle class is basically non-existent is really concerning 
.
. But hey, at least they're talking about it, right? 
. We need to keep an eye on this and see what happens next 
I mean, 8 hours a day on his delivery app and still can't make ends meet? That's not just complicated, that's like, basic math right there! 
. The US bailout might seem like a help, but at what cost? I'm reading about how domestic industries are struggling so much and people are losing jobs left and right 
The US is sending in $40 billion but it's like Band-Aid on a deeper wound 
