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More than half of Argentines are poor and inflation has increased since Javier Milley came to power

More than half of Argentines are poor and inflation has increased since Javier Milley came to power

Official data released Tuesday in Argentina revealed that more than half of citizens are in poverty, with poverty rates rising continuously over the past year and accelerating after Javier Mele came to power and following a austerity policy, which led to falling employment and consumption rates and an increase in inflation. , which exceeded 200 percent.

More than half of Argentines currently live in poverty, the rates of which have continued to increase over the past year and have accelerated in particular since the arrival as president of Javier Meli and his policy of reducing spending, according to official data published Tuesday.

In this regard, the Observatory of Social Religions of the Pontifical Catholic University estimated that the poverty rate reached 55.5 percent in the first quarter of this year, compared to 44.7 percent in the third quarter of 2023 and 49, 5 percent in December, when Millie was sworn in.

According to the figures, about 17.5 percent of the country’s 46 million people are destitute, about double the rate in the third quarter of last year.

The poverty level in Argentina is defined as a monthly income below the US$292 needed to purchase a basket of basic consumer goods for an adult, or US$904 for a family with two children. An adult who earns less than $132 is considered to be in extreme poverty or deprivation.

The new figures are worse than the latest published by the National Statistics Agency (INDEC), which put the poverty rate at 41.7 percent at the end of 2023. The rate then registered an increase from 39, 2 percent from the previous year.

Indec publishes poverty data twice a year, and its latest report predates the Milli government’s sharp devaluation of the peso in mid-December and the rapid inflation that followed.

All economic indicators point to a considerable impact on the population following Milley’s austerity measures, with employment and consumption rates falling in addition to annual inflation exceeding 200 percent.

In March, UNICEF said the rate of extreme poverty among children in Argentina would likely reach one in five by the end of 2023.

However, Milley’s administration froze the distribution of thousands of tons of food aid for several months pending a review of soup kitchens that provide free food to the poor.

A month ago, a court ordered the government to release this food aid “immediately” and a rapid distribution operation was organized this week with the help of the army.

France 24/AFP

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