Argentina: Poverty Rate Above 50% in First 6 Months Under Milei

The Facts

• Argentina's poverty rate has increased from 41.7% in the second half of 2023 to 52.9% — reportedly highest since the 2001 financial crisis — in the first half of 2024.

• Some 15.7M Argentinians — nearly one in five — are now poor, according to the figures published on Thursday by the country’s INDEC statistics agency.

• Its annual inflation of over 230% is reportedly among the worst, but fiscal steps have tamed the monthly figure from 25.5% last December to 4.2% recently.