Average wage fell 44.3% in dollar terms under Macri government

The average income of Argentine workers has slumped by 44.3% in dollar terms since 2015, according to a report by the Universidad Nacional de Avellaneda (Undav). This was predominantly due to the peso's heavy devaluation and real wage lag during the last four years. The decline was even sharper when measuring the purchasing-power of the minimum wage, which passed from representing $589 at the end of 2015 (AR$5,588 at that time) to the current $268 (AR$16,875 pesos) – a plunge of almost 55% in only four years.

Macri’s era registered a capital flight of $88.4 billion

The “formation of external assets of the non-financial private sector” last December was negative ($153 million) for the first time in three years, according to data from the Central Bank (BCRA) Exchange Balance. What is known as "capital flight" totalled $26.9 billion in 2019, just 1% below the 2018 historical record, and between December 2015-November 2019, was $88.4 billion, almost double the current BCRA reserves.