According to official statistics, the share of people below the poverty line rose to 40.1 percent about three weeks before Argentina’s presidential elections. According to figures published on Wednesday by the national statistics agency INDEC, the share of the population living in poverty increased by 0.9 percentage points in the first half of 2023 compared to the second half of 2022.
South America’s second-largest economy is in serious crisis. According to the latest official figures, inflation is 124 percent.
Currency is losing more and more value
The national currency, the peso, continues to lose value against the US dollar and the mountain of debt continues to grow.
In Argentina, anyone living in a household whose income is not sufficient to pay for the basics of certain goods and services is considered poor in Argentina.
On October 22, Argentines will elect a successor to left-wing leader Alberto Fernández. Libertarian populist Javier Milei emerged victorious in the primaries, while Economy Minister Sergio Massa is running as a candidate for the Peronist government camp.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
