Milei's Economic Policies Spark Protests Amidst Soaring Business Closures and Household Debt in Argentina

Thousands of Argentines, including shopkeepers, business owners, unions, and civil society organizations, protested in Buenos Aires against President Javier Milei's economic policies. Demonstrators gathered at Plaza de Mayo, near the Casa Rosada, to highlight the increasing debt burden on middle and lower-middle-income households. Protesters argued that citizens are forced to take out more loans to cover essential needs like food, medicine, and basic services. Data reveals the severity of the economic crisis under Milei's administration. A report from the think tank Fundar, based on May 2026 data, shows that 30,633 companies have closed since Milei assumed office in December 2023, representing approximately 6% of the country's businesses. This marks one of the most significant declines in company activity within the first 30 months of a government. In May 2026 alone, 2,371 businesses ceased operations, averaging 76 company closures per day. These figures have reignited debate about the impact of government economic policies on small and medium-sized enterprises. The Argentine Center for Economic Policy (CEPA) corroborated the data, identifying the trade sector as the most affected, with 8,408 business closures. It was followed by transportation and storage (6,733 businesses), real estate services (4,098), and manufacturing (4,020). The economic pressure is also reflected in household finances. Central Bank of Argentina data shows the non-payment rate on household loans surged from 2.5% in October 2024 to 12.8% in June 2026, raising concerns about borrowers' ability to repay debts. Amidst these economic protests, President Milei made controversial remarks at the Americas Society conference, blaming the decline in birth rates on the feminist movement and abortion rights advocates. He stated, "We are paying a very high price for the madness of the green scarves," referring to the symbol of the feminist movement and the fight for legal abortion. Milei asserted that Argentina is not achieving the growth and birth rates necessary for population renewal and announced a musical event to celebrate falling inflation.

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Protestors argued that the public is forced to use more credit to meet their essential needs such as food, medicine, and basic services.