Argentine trade unions launched a general strike against President Javier Milei’s austerity measures and planned reforms.
The strike was announced on Thursday, May 8. It is reported that the cost incentives have stabilised local markets but have hit the real economy.
The tough economic policies caused public transport, the important grain processing sector, supermarkets, airports and banks to shut down for 24 hours as most major trade unions joined the protest against the government.
Milei, an economist and former media expert, won the presidential election last year on a promise to mend the economic crisis that had led to inflation and a depletion of the country’s reserves.
Despite widespread support, his market-orientated stance and tough policies hurt people’s real wages, increased already high poverty rates and caused economic activity to fall earlier this year.
Hugo Yasky, head of the CTA union, wrote on X that the strike targeted “a government that only benefits the rich at the expense of the people, gives away natural resources and seeks to eliminate workers’ rights.”
The president hopes to pass a wide-ranging reform package, including controversial labour reform, through the Senate after winning approval from the lower house, despite weak support in Congress.
Markets declined on Thursday, as banks remained closed amid a strike announced by their employees. Presidential spokesman Manuel Adorni stated that the transport sector strikes would affect about seven million people.
It is a strike that has no reason or apparent justification.
