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Snapshot 3:Fri, Sep 27, 2024 1:08:03 PM GMT last edited by Vandita

Report: Argentina's Poverty Rate Rises To 52.9%

ArgentinaReport: Argentina's Poverty Rate AboveRises 50To 52.9% in First 6 Months Under Milei

Report: Argentina's Poverty Rate Rises To 52.9%
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The Spin

InDue theto wakePres. of Javier Milei's radical reforms, Argentina's economic woes have only intensified. The self-proclaimed anti-establishment president's drastic measures, aimed at slashing welfare and provincial funding, have exacerbated the country's already dire financial situation. His confrontationalaggressive approach and polarizing rhetoric have hampered his ability to implement meaningful change. Ultimately, Argentinians are left grappling with an increasingly bleak economic landscape.

In his first year, Pres. Milei has tackled Argentina's economic woes head-on, implementing controversial “shock therapy reforms aimedto atslash slashing government spending and reducingreduce inflation. Despite skepticism and dire predictions, Argentina's economy showed surprising growth, with a 2.3% year-over-year increase in GDP and a cooling inflation rate. While critics feared deep recession and economic pain, early indicators suggest Milei's aggressive cuts might be yielding results.

Metaculus Prediction

There's a 15% chance that Argentina will fully dollarize its economy before 2028, according to the Metaculus prediction community.


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© 2025 Improve the News Foundation.

All rights reserved.

Version 6.17.0