The government has launched a rescue plan for the most affected industries



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Macri led the meeting with the textile, clothing and footwear industries

"The textile, footwear and leather goods sector is fundamental to Argentina's productive structure and we want to accompany it at the moment and at the same time promote its transformation," said Sica. The minister admitted that it is necessary "to work together to boost consumption, sustain job stability and advance the formalization of workers and the production chain." It was a way of putting into words the critical situation that these industries are going through.

According to UIA data, the textile-clothing chain collapsed 25% year-on-year in September, while the Moroccan sector says that in recent months "3,500 jobs were lost and 80 factories were closed". The footwear industry is also hit by falling activity and, according to versions, would have lost about 10,000 jobs.

"The measures are very positive because these sectors should be the most punished, they are greatly affected by the recession," Acevedo said, adding that "they are finally looking at the industry." Overestimation of the non-taxable minimum for employer contributions encouraged industrialists to the point that Acevedo said "this can be replicated in many other sectors." Although there is no progress in this regard, the labor-intensive industries, such as food and beverage or metallurgy industries, would be in the portfolio.

Consulted on this point, Industry Secretary Fernando Grasso explained that "there is a general production policy, which is to reduce the tax burden associated with labor and this guideline is reflected in the tax reform," but added that "the advance of the minimum non-taxable (NIM) is very focused on the textile and clothing industry, footwear and leather goods, due to the level of informality and the most critical situation of these sectors. " "The idea is to focus it here and not extend it to other sectors," Grasso told El Cronista.

During a subsequent meeting with Sica, SME entrepreneurs raised the impact of interest rates and other issues on the agenda. "We want the bonus (end of the year) to be taken on account of national taxes, VAT or social charges," said Ariel Aguilar, president of CIMA (morroquineros). And he said that smooth lines are needed for the sector, "not to exceed 30%" and export incentives.

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