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Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Over Half of Argentines In Poverty


Wed 05 Jun 2024 | 02:53 PM
Israa Farhan

Official data released on Tuesday indicates that more than half of Argentinians now live in poverty, with poverty rates steadily rising since last year, exacerbated by President Javier Melli's cost-cutting policies.

The Social Debt Observatory, affiliated with the Catholic University of Argentina, estimated the poverty rate at 55.5% in the first quarter of this year, compared to 44.7% in the third quarter of 2023 and 49.5% in December, when Melli took office.

According to the figures, about 17.5% of the country's 46 million population are destitute, nearly double the rate in the third quarter of last year.

Poverty level in Argentina is defined as earning a monthly income of less than $292 required to purchase a basic basket of consumer goods for an adult, or $904 for a family with two children.

An adult earning less than $132 is considered in extreme poverty.

These new numbers are worse than those previously released by the National Statistics Agency "INDEC," which put the poverty rate at 41.7% at the end of 2023.

At that time, the rate had increased compared to 39.2% the previous year.