| Work Detail |
Investment in public works at the national level in Argentina registered a year-on-year drop of 83% between January and October 2024, according to data from the Éforo Foundation. This decline had a particular impact on the regions of Patagonia, Cuyo and the center of the country. Most of the funds executed, around $63,816 million, were allocated to the National Highway Directorate for maintenance and works on road corridors, representing more than $100 million. Provinces such as La Rioja and San Luis were the most affected, with reductions of 97% and 94% respectively in real investment. In Patagonia, Chubut and Santa Cruz, there were declines of close to 90%. The situation was also critical in the centre of the country, where the City of Buenos Aires and the province of Buenos Aires experienced contractions of 82% and 89%, respectively. This trend reflects a general decline in development. The crisis in public investment had a direct impact on employment in the construction sector. According to the IERIC, 357,070 jobs were registered in October 2024, a figure slightly higher than the previous month but 12.5% ??lower than the average for October between 2010 and 2019. This reduction affects both workers and local economies that depend on construction activity. Construction input sales also reflect the sectors decline. The Construya Index reported a 6.6% drop in December 2024 compared to the same month in 2023 and a 1.2% drop compared to November. Key materials such as sanitary ware (-46.9%), round iron and steel (-34.8%) and hollow bricks (-34.5%) showed significant declines, while asphalt was the only input with a notable increase (22.4%). |
