Argentina protests – Tens of thousands of Argentines demonstrated in Buenos Aires against President Javier Milei’s austerity agenda, testing how long his macro gains can outlast a grinding daily squeeze on wages, jobs and support.
When tens of thousands of Argentines surged through Buenos Aires on Tuesday, it wasn’t just another protest against a president’s style. The anger was rooted in the economy—and in the widening gap between policy promises and what many people feel at work and at home.
Argentina’s demonstrations against President Javier Milei’s austerity policies drew figures that one government estimate put in the hundreds of thousands.. The unrest comes more than halfway into Milei’s four-year term. when protests have become “relatively frequent. ” and as his approval rating slid to around 35 percent last month. according to AtlasIntel.
Some signs referenced recent corruption accusations involving Milei’s chief of staff. But Tuesday’s main grievance, by far, was economic.
On the campaign trail in 2023, Milei was explicit that his aggressive program would disrupt people’s lives.. In his inaugural address. he warned the situation would get worse “in the short term. ” affecting “employment. real wages. and the number of poor and destitute people.” Those predictions soon became reality. even as other indicators moved in the direction Milei said mattered.
Inflation fell, the deficit dropped, and—after shrinking in 2023 and 2024—Argentina’s economy grew 4.4 percent in real terms last year, according to the International Monetary Fund (IMF). Still, that progress isn’t showing up evenly in everyday conditions.
One widely cited measure of the strain: when adjusted for inflation, average formal sector wages in February were nearly 9 percent below their level in November 2023, the month before Milei took office.
Verisk Maplecroft’s chief Americas analyst, Mariano Machado, says Milei has prioritized expanding parts of the economy that employ fewer people—such as mining and oil—while allowing job losses in sectors that became uncompetitive after he stripped away government support, including manufacturing.
“Argentina’s recovery is moving faster in the macro data than in people’s lived experiences,” Machado said. He pointed to what he views as a missing piece in the government’s approach: the lack of a clear definition of how the state will help workers transition into “future-proofed jobs.”
Machado also describes how Milei has responded to dissent domestically, often vilifying critics and targeting independent media.. Milei has also leaned into relationships with other right-wing leaders to keep his political flexibility, including U.S.. President Donald Trump and Israeli Prime Minister Benjamin Netanyahu.
In April, Milei made his third official visit to Israel and met pro-Trump billionaire Peter Thiel in Buenos Aires.
Those international ties may matter politically if Argentina’s finances tighten again.. The United States pledged $20 billion in potential financial support for Argentina ahead of its midterms last year.. Machado said that if Milei struggles to meet future sovereign debt payments. it’s possible the IMF—or even the U.S.. Treasury—could provide fresh assistance.
Traditionally, a president’s unpopularity like Milei’s would open space for opposition momentum. But Machado said that doesn’t appear to be happening. Opposition forces have not rallied around a single figure.
A survey last month found Argentina’s most popular politician was not Axel Kicillof. the rising figurehead of the main Peronist movement.. Instead, the top spot went to Myriam Bregman, an official from a niche far-left party.. Bregman’s ratings are high. but Machado noted she lacks the nationwide organizational infrastructure that has enabled past victories by the Peronists.
As for economic proposals, Machado said the opposition remains thin on alternatives. “On the opposition side, there is very little novelty. Milei’s program is still the only genuinely new offer on the table.”
For now. the political arithmetic for Argentina’s next moves looks uncertain: macroeconomic improvements are real. but the street is telling a different story.. Milei’s ability to sustain his reforms may increasingly hinge not on what investors and institutions see in the numbers. but on whether the lived economy catches up before his political support erodes further.
Argentina protests Javier Milei austerity policies Buenos Aires inflation IMF U.S. support IMF assistance opposition politics