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Over 40% of people in Argentina living below poverty line: Report

According to official statistics, the percentage of people living below the poverty line in Argentina has risen to 40.1 per cent.

• September 28, 2023
IMAGE USED TO ILLUSTRATE POOR ARGENTINIANS (Credit: Star Hope)
IMAGE USED TO ILLUSTRATE POOR ARGENTINIANS (Credit: Star Hope)

The percentage of people living below the poverty line in Argentina has risen to 40.1 per cent, according to official statistics.

According to the figures released by the national statistics agency Indec, the percentage of the population living in poverty increased by 0.9 per cent in the first half of 2023 compared to the second half of 2022.

In Argentina, a person is considered poor if they live in a household with insufficient income to afford basic supplies.

The figures were released just over three weeks before Argentina’s presidential election.

South America’s second-largest economy is amid a severe financial and economic crisis.

According to the latest official figures, the inflation rate is 124 per cent.

The national currency, the peso, is in free fall, and the mountain of debt is piling up.

On October 22, Argentines would elect a successor to leftist Prime Minister Alberto Fernández.

The libertarian populist Javier Milei emerged victorious from the primaries, while economy minister Sergio Massa would represent the Peronist government camp. 

(dpa/NAN)

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