Report: Argentina's Poverty Rate Rises To 52.9%

Published SEP 27 2024

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Above: A woman walks past signs with food prices in Avellaneda, Buenos Aires province, on Sept.25, 2024. Image copyright: Luis Robayo/Contributor/AFP via Getty Images

The Spin

Due to Pres. 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 dire financial situation. His aggressive approach and polarizing rhetoric have hampered his ability to implement meaningful change. Ultimately, Argentinians are left grappling with an increasingly bleak economic landscape.

Newsweek

Pres. Milei has tackled Argentina's economic woes head-on, implementing shock therapy reforms to slash government spending and reduce 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.

Eurasia Review