Argentina records sharp rise in poverty

More than half of people in Argentina are now living in poverty, latest figures indicate.

British Broadcasting CorporationWatchHomeNewsUS ElectionSportBusinessInnovationCultureArtsTravelEarthVideoLiveHomeNewsIsrael-Gaza WarWar in UkraineUS & CanadaUKUK PoliticsEnglandN. IrelandN. Ireland PoliticsScotlandScotland PoliticsWalesWales PoliticsAfricaAsiaChinaIndiaAustraliaEuropeLatin AmericaMiddle EastIn PicturesBBC InDepthBBC VerifyUS ElectionElection pollsKamala HarrisDonald TrumpJD VanceTim WalzSportBusinessExecutive LoungeTechnology of BusinessWomen at the HelmFuture of BusinessInnovationTechnologyScience & HealthArtificial IntelligenceAI v the MindCultureFilm & TVMusicArt & DesignStyleBooksEntertainment NewsArtsArts in MotionTravelDestinationsAfricaAntarcticaAsiaAustralia and PacificCaribbean & BermudaCentral AmericaEuropeMiddle EastNorth AmericaSouth AmericaWorld’s TableCulture & ExperiencesAdventuresThe SpeciaListEarthNatural WondersWeather & ScienceClimate SolutionsSustainable BusinessGreen LivingVideoLiveLive NewsLive SportHomeNewsUS ElectionSportBusinessInnovationCultureArtsTravelEarthVideoLiveAudioWeatherNewslettersArgentina records sharp rise in povertyAFPMore than half of Argentina's 46 million people are now living in poverty, new figures indicate, in a blow to right-wing President Javier Milei's efforts to turn around the country's beleaguered economy.

The poverty figure for the first six months of this year was 52.9%, up from 41.7% in the second half of 2023, said the country's Indec statistics agency.

Since taking office in December, Milei has slashed subsidies for transport, fuel and energy and sacked thousands of civil servants, as he seeks to bring down inflation and reduce government expenditure.

Argentina's annual inflation rate in August remained one of the highest in the world at more than 230%.

However, Milei has successfully curbed rampant government overspending, widely blamed for the country's economic woes. After years of racking up huge budget deficits, Argentina has seen fiscal surpluses every month since February.

https://www.bbc.com/news/articles/ceqn751x19no

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