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Argentina warns of drop in the use of industrial capacity

Buenos Aires, May 16 (Prensa Latina) The use of installed industrial capacity (UCII) in Argentina stood at 53.4 percent in March, which is alarming and shows the impact in slowdown of the economy, warned today the newspaper Página 12.

In an article published this day, the newspaper pointed out that ‘this level is identical to the one registered in the first months of the Covid-19 pandemic and allows observing the harmful impact of President Javier Milei’s adjustment policies on the domestic market, consumption, production, investment and on the labor market’.

The text indicates that the manufacturing sector is one of the big losers of the La Libertad Avanza program and in the coming months it will continue to worsen due to the indiscriminate opening of imports, the fall in domestic consumption, the collapse of sales and the exchange rate instability.

According to the National Institute of Statistics and Census, with respect to 2023, the UCII decreased 13.9 percentage points and all sectors suffered sharp drops, but among the most affected are the production of non-metallic minerals, basic metal, automotive and textile industries.

Economist Daniel Schteingart says that since this index has been published, there has never before been such a generalized drop, not even during the health emergency caused by the SARS-CoV-2 coronavirus.

The projection of specialists and business chambers is that the year could end with an unprecedented drop close to 30 percent.

This would be worse than the 2001-2002 crisis, warned Pagina 12.

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