Argentina ended 2024, the first year of Javier Milei’s presidency, with a 3.3% drop in supermarket sales in December compared to the same month in 2023, according to the National Institute of Statistics and Census (Indec). While annual supermarket sales fell by 11% and retail sales dropped 15%, these figures reflect a broader story of rapid economic transformation driven by Milei’s bold reforms. Milei’s administration inherited an economy grappling with hyperinflation, fiscal deficits, and stagnant growth. To stabilize the situation, his government implemented sweeping austerity measures, including cutting public spending by 30%, freezing public wages, and eliminating subsidies.
February 27, 2025
SOURCE: RIO TIMES
Supermarket and Retail Sales Drop as Milei Reshapes Argentina’s Economy