Posted: 01.03.2024 10:38:00

Study: poverty in Argentina reached 20-year high of 57.4%

In January 2023, the poverty rate in Argentina was the highest in the last 20 years, Reuters reports with reference to a report of the Catholic University of Argentina (UCA) published by local media on February 18th


According to the report, the Peso devaluation in early December and a subsequent increase in prices exacerbated the poverty rate, which amounted to 49.5 percent at the end of the year.

"In December, the current government carried out large-scale economic reforms, primarily the Peso devaluation by 54 percent against the US Dollar. As a result, Argentines' incomes dropped and prices soared," the source says.

On February 16th, Argentina's Economy Ministry reported a January budget surplus of 518.41bn Pesos ($620.85m), the first time the number has been in the green since August 2012.