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Argentina's poverty rate soars past 50% under Javier Milei

www.dw.com Argentina's poverty rate soars past 50% under Javier Milei – DW – 09/27/2024

Staunch libertarian Javier Milei has implemented a range of austerity measures since taking office. His government blamed previous administrations for the dire economic situation.

Argentina's poverty rate soars past 50% under Javier Milei – DW – 09/27/2024

Staunch libertarian Javier Milei has implemented a range of austerity measures since taking office. His government blamed previous administrations for the dire economic situation.

The poverty rate in Argentina reached 52.9% during the first six months of Javier Milei’s government, the national statistics agency reported on Thursday.

It marks the highest poverty rate since 2003, and a 11.2% increase compared to the second half of 2023.

The number of people living in extreme poverty grew by 3 million during the first half of 2024, according to the report.

The statistics agency calculates poverty by comparing household income with the cost of a basic basket of goods, which amounts to around $240 (€215).

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