CGT Strike to cost Argentina $489 Million USD

[Finance Prof]

According to UADE’s estimate, the cost to the economy will be $696.268 billion pesos, equivalent to approximately US $489 million dollars.

This figure represents 0.8% of February’s GDP.

The study points out that if transportation did not participate, the loss would be US$180 million: more than 50% of the impact is associated with transportation problems. There are sectors that can recover sales in the following days, but others suffer irrecoverable losses. The impact is smaller than in previous strikes because February is a slower month with low economic activity.

But you can see if there are repeated strikes how this can really be costly for Argentina.

 

[Avocado]

This is nothing. Add up how much Milei and his sister are stealing from Argentina and this drop in bucket.

 

[Uncle Wong]

Funny how when the government is doing much worse and things were terrible there weren't strikes? Did Alberto have many strikes? It sounds like these can really paralyze the economy. No matter Milei wants to nip it in the bud quickly.

 

[Wally]

Funny how when the government is doing much worse and things were terrible there weren't strikes? Did Alberto have many strikes? It sounds like these can really paralyze the economy. No matter Milei wants to nip it in the bud quickly.

Many of these people are paid thugs. But many people are going to be against this labor reform. It's great for business owners but many employees are against this.

This is why many foreign companies are going to probably stay on the sidelines until they see how things play out. As fast as Milei came into office he can go out too. If Congress approves this the CGT can create chaos and they signaled this is just the beginning.

 

[import export]

The vast majority of Argentines hate the unions.

 

[oil rush]

What is to like about these thugs. Look what they do to businesses.

 

[MikeRoss]

 

[Jenn]

Doesn't look like a fun place to visit right now. My friend's flight was just cancelled. I guess they are all on strike a few days.

 

[Marleny]

I just saw this graphic. How did Alberto have 0 strikes? Was it because COVID for 2 years kept everything closed?