Quarantine has serious economic consequences in Argentina – AFIP report

“In 2020, more firms were destroyed than in the accumulated of 2018 and 2019. Something similar happens with the employees, which worsens the situation even more,” said Ecolatina Chief Economist Matías Rajnerman.

RIO DE JANEIRO, BRAZIL - Argentina's Federal Tax Bureau AFIP data shows 235,381 jobs were lost. Around 23,000 companies had closed due to the contraction in the economy due to the health measures to control coronavirus, it was reported Friday.

Last year, 22,860 companies were lost to restrictions, more than those closed in 2018 and 2019 combined, according to official records, thus resulting in the loss of 235,381 jobs, the news outlet TN reported. However, it admitted there might be some margin of error since these figures stem from tax returns, some of which may not . . .

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