Debit with the financial system registered a monthly increase of three percent in July and reached its highest level in the year.

Although in annual terms loans to the sector fell by 21 percent, delinquency in the last two months was the highest since August 2021.

Past due loans averaged $9.2 million between May and July, higher than the $4.76 million average recorded a year earlier.

The main cause of the industry’s poor performance was the lower meat demand from China.

This strongly affected the level of employment and work in slaughterhouses.

This is a problem that has persisted for at least three months, said the president of the Meat and Allied Industries Workers Federation, Martín Cardozo, in statements to Radio Carve.

Currently there are ‘three or four meat packing plants’ that work consistently throughout the year, while the rest have periods of low activity, which is why they have to resort to unemployment insurance, he said.

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