Poverty in Argentina increased 10% in six months driven by Milei's neoliberal measures

Published at: 27/09/2024 07:48 PM

The administration of the Argentinian extreme right-wing Javier Milei demonstrates the consequences of the application of neoliberal measures, generating 10% poorer people in that nation in just six months to reach 52% of the population.

According to a recent report cited by national media in that country, this 52.9% is the highest figure since 2004, involving 25 million people living in poverty.

“After the president carried out a program of adjustments and large cuts in important sectors of the economy that has resulted in the fall of industrial activity, purchasing power and employment,” reported the news portal Fuser News.

He added that the economic program, classified by the International Monetary Fund (IMF) and the World Bank, as “miraculous” caused a sharp contraction in GDP but in practice it is based on the exponential increase in public services and the abrupt cut in social spending, as well as in public investment in works.

According to the poverty figure, in the first months of 2024, under the leadership of the economist who define themselves as “anarcho-capitalist”, 5.5 million new Argentines fell into poverty.

This situation is especially critical in children, a sector that has received a severe blow with the measures imposed by the Government, as well as older adults, while the indigent population has grown by more than six points, to more than 18% or 8.5 million people.

Mazo News Team