Illegal business sales in Capital Federal have reached an “all time high” during September, according to The Argentina Confederation of Medium Businesses (CAME).
A survey released today reported that seven new informal markets opened in September with 817 new illegal stalls selling 17.1% more than in August.
“The penetration of illegal sales in the nation’s capital is unprecedented,” the survey stated.
Illegal markets earned a total of $386.5million in September at an average rate of $12.5million every day, according to the survey. CAME blamed this increase on a rise in sellers and lack of control of city streets.
“The city of Buenos Aires will continue to be populated by illegal business. The surprising increase that happened in September is a preview of what will happen by the end of the year if authorities do not take serious control,” according to CAME.
The survey covered 437 blocks and plazas near railway stations in Constitución, Once, Retiro and Lacroze. The majority of the stalls are involved in illegal sale of counterfeit sportswear.
For some time, business groups have been in dispute with informal street sellers, known locally as ‘manteros‘, who they claim pay no taxes and undercut prices.
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