Argentina's government-controlled carrier Aerolineas Argentinas said on Monday it would cancel all Wednesday flights due to a one-day nationwide strike called by labor unions to protest the economic policies of center-right President Mauricio Macri.

The cancellations, which include 330 domestic and international flights, will impact some 37,000 passengers, the airline said in a statement.

The strike is expected to shut down public transportation, banks and a number of other services across recession-hit Argentina for 24 hours.

Under Argentina's agreement with the International Monetary Fund, Macri, who is seeking re-election in October, has committed to erasing the primary fiscal deficit in 2019. He has cut popular electricity and heating gas subsidies while implementing other belt-tightening measures, policies that are routinely protested in the streets of capital Buenos Aires.

"Affected passengers already have the possibility to change their tickets for other dates or destinations during a period of 30 days... or they may request the refund for the amount paid," Aerolineas Argentina said in the statement.

A similar nationwide strike in April prompted the airline to cancel 350 flights.