The population of Argentina is suffering. The purchasing power of people who still have a job is down (a lot), and unemployment must have doubled (it was 5,7% in the last quarter of 2023) if it has not tripled. Less government spending, less consumer spending, and, no doubt, less private investment means that Argentina is experiencing an economic disaster which will scar the country for decades. Retail sales (volume): down around 20% while, at this moment, people will still be able to use their savings to maintain their standard of living!
About half a year ago, the unreformed libertarian Melei became president of Argentina. His economic recipe: shock therapy (including a HUGE devaluation). The first results are in. Retail sales: down around 20% (volume, year on year). Meaning
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