Argentina’s poverty rate has surged to 52.9 per cent under its government’s austerity programme, in a warning sign for libertarian President Javier Milei as his popularity begins to falter.
The rate, published by the national statistics agency on Thursday, is the worst in two decades and 11.2 percentage points higher than in the second half of 2023, when it stood at 41.7 per cent, meaning 3.4mn Argentines have fallen into poverty this year.
Milei, who took office in December, has slashed public spending in an effort to bring down annual inflation that peaked at close to 300 per cent in April. The price increases have eroded the purchasing power of workers and pensioners.
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