Poverty hits 20 years high as Javier Milei continues his experiment on Argentina
11:13 AM EST, February 19, 2024
As Country media reported on Sunday based on Catholic University of Argentina (UCA) study, poverty levels in Argentina hit 57.4% in January. While president is trying to calm Nation people are seeing it at his another "great achievement"
As local media simultanusly report first surplus budget in 12 years, and record braking poverty poll one can get confuse. We are here to get you thru current situation in Argentina under Milei's administration.
Poverty, destitute, inflation
While the scale of poverty shocks not only as a number, but also as a trend (it went from 44% to 57 in just 5 months) the destitute rate almost doubled from 9.6 to 15%. While people are getting poorer the inflation, the main topic of Milei's campaign still raises. The year-to-year rate just hit the astronomical 254.4%, and there's no flattening seen in the rise curve. In the span of 2 months of Javier Milei's time in office petrol prices doubled , and if you think that public transport price stayed where it was you're mistaken by much- The bus tickets went up 250$ while train ones 169%.
What's the defence?
As Milei was taking the office He made a big statement in a media, poverty rate was hitting 45% and he gave himself 3 months to fix it. As political commentators of South America observed, he got no more than 4 weeks to act.
As the country is flooded with poverty, the president continues his policy of cutting spending on social programs and "giveaways to people," as he calls them. If we were to believe him without any thought, it would cause the economy to heal after the devastation of "socialists and communists" found the country.
What are your takes on controvential President from Argentina?
Sources: Reuters; X
