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1972 Crisis Revisited: Current Economic Challenges - News Directory 3

1972 Crisis Revisited: Current Economic Challenges

June 8, 2025 Catherine Williams Business
News Context
At a glance
  • Argentina's science and technology sector is⁢ grappling with⁢ an unprecedented crisis as drastic budget cuts, implemented by President Javier Milei's government, force scientists to abandon research.
  • The esteemed Argentine scientific community, which boasts ⁢three Nobel Prizes in Medicine and Chemistry, has joined the growing chorus of voices ⁣protesting Milei's austerity measures.
  • According to the EPC Group at the Ibero-American Center for⁤ Research in ⁣Science, Technology and Innovation ⁣(CIICTI), the national budget⁤ execution for science and technology experienced a 30.3%...
Original source: eleconomista.es

Argentina’s science sector is in freefall,‍ facing an unprecedented funding crisis⁣ that ‍threatens groundbreaking research and scientific innovation. Budget cuts are forcing scientists to⁢ abandon their work, triggering protests and casting a ⁤shadow over the nation’s technological future. State investment in science and technology is projected to hit a historic low,even worse than during the 2002 economic crisis. This financial⁣ strain is impacting salaries, scholarships, ‍and leading to significant job⁤ losses; the National Scientific and Technical Research Council (CONICET) has been hit hard. News Directory 3 is⁤ following ⁤the story closely. How⁤ will Argentina navigate this challenging ⁤period and safeguard⁤ its scientific ‍progress? Discover what’s next …

Key Points

  • Argentina’s science and technology sector is⁢ facing a⁢ severe crisis due to ⁢budget cuts.
  • Scientists are protesting⁢ the cuts, which⁢ have⁤ led⁣ to job losses and research ⁣disruptions.
  • state investment in science and technology is projected to fall to a historic low.

Argentina’s Science Sector Plunges into Unprecedented⁤ Crisis

Updated June ‍08, 2025
⁣

Argentina’s science and technology sector is⁢ grappling with⁢ an unprecedented crisis as drastic budget cuts, implemented by President Javier Milei‘s government, force scientists to abandon research. ⁣The cuts⁢ have triggered widespread protests and raised serious concerns about the future‍ of scientific advancement in the nation.

The esteemed Argentine scientific community, which boasts ⁢three Nobel Prizes in Medicine and Chemistry, has joined the growing chorus of voices ⁣protesting Milei’s austerity measures. Since Milei ‍assumed office in late 2023, state investment in science and technology has plummeted.

According to the EPC Group at the Ibero-American Center for⁤ Research in ⁣Science, Technology and Innovation ⁣(CIICTI), the national budget⁤ execution for science and technology experienced a 30.3% decline in 2024, followed by a 25.4% drop in the first four months of this year.⁢ This dramatic reduction in ⁢funding ⁣is having a devastating impact on research institutions⁢ and scientists across the country.

Experts project that ⁢state investment in the sector will plummet to a mere 0.15% of GDP in 2025. This figure ⁣is lower than the 0.17% recorded during the severe economic crisis of 2002 and considerably below the 0.35% peak ⁣in 2015. The cuts to science funding ⁤are impacting salaries and scholarships, which have lost significant value since Milei took office.

The National science and Technology System has seen a reduction in personnel, dropping⁢ from 75,051 ⁤in ⁣December 2023 to 70,903 by March,⁣ resulting in the loss of 4,148 jobs. The National council‍ of ⁣Scientific and Technical Research (CONICET), Argentina’s primary science agency, has been notably hard ⁢hit, accounting for a significant portion of these job‍ losses.

President Milei, who‍ eliminated the Ministry of Science and Technology upon assuming office, has repeatedly denigrated CONICET, even referring ⁣to researchers in the social sciences as “parasites.”

“The Government says that the workers⁤ of the scientific system are not productive or we study Pavadas,” said Gabriel Bover,union delegate at CONICET.

Bover warned that research projects ‍are being terminated due‍ to lack of funding, resulting in a loss of valuable knowledge. He added that researchers have lost nearly 40% of their salaries since⁢ Milei’s inauguration, forcing many to take on additional⁣ jobs to make ends meet.

Gabriela Dranovsky, co-director of Ciicti, noted that the low salaries and lack ⁢of funding are discouraging young scientists from pursuing ⁣research careers. She

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