Poverty Rate In Argentina Rise To 53 Percent
Date
9/27/2024 3:12:48 PM
(MENAFN- AzerNews)
By Alimat Aliyeva
Drastic cuts in social programs and the economic downturn have
led to an increase in poverty in Argentina,
Azernews reports.
In the first half of this year 52.9 percent of the country's
population lived below the poverty line. In the second half of last
year, this figure was 41.7 percent. At the same time, the number of
people living in extreme poverty increased from 11.9 percent to
18.1 percent.
After Argentine President Javier Miley took office at the end of
last year, he cut a number of social programs and subsidies, as
well as many jobs in the public sector. Nevertheless, Argentina has
managed to significantly improve its economic forecast for 2024.
The country's economy shrank by only 1.3 percent, rather than the
reported 3.9 percent.
It should be noted that the once rich Argentina is facing a
serious economic crisis. The Organization for Economic Cooperation
and Development predicts that production in the country will
decrease by four percent this year.
MENAFN27092024000195011045ID1108723960
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.