Argentina's poverty rate is rising

According to Fox News, the results of an investigation from the Catholic University of Argentina (UCA) showed that the poverty rate in Argentina last January reached 57.4% (the highest level in the past 20 years).

Prices of vegetables and fruits are displayed at a market in Buenos Aires on January 9, 2024.

The figures were released in the context of President Javier Milei, who, after taking power in Argentina in December 2023, decided to devalue the peso by 50% and the prices of essential goods escalated out of control. The purchasing power of the middle class decreased and the poverty rate in Argentina increased significantly after only 2 months of the new government 's rule.

The UCA survey estimates that nearly 27 million Argentines are living in poverty. The UCA also said that this is the time when Argentine society has fallen into a record recession, much higher than the 54% rate in 2004, and predicted that this rate will increase in the coming months.

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Source: https://www.sggp.org.vn/ty-le-doi-ngheo-argentina-tang-cao-post727360.html