Overview
- Arriazu, speaking to investors Monday in a BlackToro-hosted talk, said the current transition is destroying more jobs than it creates and could spill into next year’s Greater Buenos Aires elections.
- He reported a sharper slide in the Buenos Aires metro area, with the national employment rate down 0.7 points while the local drop was about twice that, and unemployment at 9.5% in Greater Buenos Aires versus 7.5% nationwide.
- He said growth now centers on energy, mining, and farming that bring in dollars but hire few workers, while industry, construction, and retail—the biggest employers—are shrinking in the urban belt.
- He urged the Central Bank to cut interest rates to ease tight credit and pressed for social cushions such as the child allowance (AUH), unemployment insurance, and targeted public works to support displaced workers.
- He lifted his estimate of the plan’s success to about 50% and projected energy exports could reach $32 billion by 2030 from Vaca Muerta, yet warned short-term job pain must be managed to avoid a political backlash.