Argentina’s poverty rate soared to almost 53% in the first half of the year, official data released on Thursday showed, the first hard evidence of the painful impact of libertarian President Javier Milei’s tough austerity measures.
The data underscores how Milei’s spending cuts, aimed at overturning a deep fiscal deficit, have caused major short-term pain.
The country is in a deep recession and inflation remains in triple digits, though there are signs things are improving.
‘Any level of poverty is horrendous’Agustin Salvia, director of the UCA’s Observatory, said that there was a significant impact at the start of the year from Milei’s policies.
“If you look at the whole story, it shows a deterioration in the first quarter.
Persons:
Javier Milei’s, ”, Irma Casal, Agustin Salvia, Manuel Adorni, Milei
Organizations:
Catholic University of Argentina’s, UCA’s
Locations:
American, Buenos Aires