The economic cost of the general strike this Thursday, May 9, organized by the CGT, would reach $489.272 billion or US$544 million.
This is equivalent to 1.1% of May GDP and the 24.3% of what would have been produced that day, according to a preliminary estimate from the UADE Institute of Economics.
The calculation “assumes that not all sectors and regions will lose equally during the strike, and that even, 20.1% of what was initially lost is recovered within the month”reported the work.
Authoritarians don’t like this
The practice of professional and critical journalism is a fundamental pillar of democracy. That is why it bothers those who believe they are the owners of the truth.
Daniel Scioli maintained that “many union members do not agree” with the general strike of the CGT
Due to the strike, some sectors suffer practically no impact and others recover quickly. “However, there are other sectors and companies that suffer irrecoverable losses and others who, although they can recover a large part of what was lost, will do so in a much longer period.”
For example, commerce will recover 35% and restaurants 0% of what is not sold. The sectors that explain most of the negative impact are the manufacturing industry and construction, which “will lose production that will be difficult to recover or will be recovered at higher costs.”
Government Estimate
The Government estimates that one and a half billion pesos will be lost. “For the unemployment of a few, we all pay”, said the presidential spokesperson, Manuel Adorni. And he added: “A single day of unemployment causes this irremediable loss.”
When detailing the impact of the force measure at the economic level, the Spokesperson maintained that it is equivalent to “1,758,742 basic baskets.”
In addition, he indicated that it represents the cost of “5,228,643 minimum pensions.” At the level of agricultural production, Adorni stated that it is equivalent to “266,702,804 kilos of meat.”
Adherence to strike in CABA businesses
The Industry Trade Federation of the City of Buenos Aires (FECOBA), pointed out that the degree of adherence to the measure of strength in Buenos Aires retail trade reached 17%.
“Although it was a higher level of compliance than that recorded last January, When the first national strike took place during the current government, membership remained at a low level,” the Federation indicated.
“The most affected neighborhoods By the measure of strength, they were those located in the micro- and macro-center area, where the absence of public influx was even more noticeable.”
“In this context, the FECOBA survey found that “83% of the merchants consulted stated that they opened the store”they added from the entity.
Collectives
The Argentine Association of Automotive Transport Companies (AAETA) estimated that the bus lines that will operate this May 9 represent the 21% of all kilometers traveled in the AMBA and they transport 20% of all passengers. on a normal day.
“Assuming a service level of 75% (some will offer 50% and others 90%), we estimate that the activity of the bus services in the AMBA will be 15% compared to a normal day”the entity indicated in a statement.
“Without a doubt, enormous damage to Argentine economic activity since 50% of the Argentine GDP is concentrated in the AMBA, and another hard blow to the bus companies that have lost between rates and subsidies 25% of their income vs. inflation in one year and for the workers who need to earn their day, with a system that already has 13% fewer buses on the street in April 2024 vs 2023”, they reported.