The president of Argentina, Javier Mileiaccused the political “caste” (leadership) of being responsible for poverty reaching 57% of the population according to data from an academic study.
”The true inheritance of the caste model: 6 out of every 10 Argentines are poor. “The destruction of the last hundred years is unparalleled in Western history.”the ultraliberal president launched on Saturday night on the social network X, after knowing poverty figures from the Social Debt Observatory of the Argentine Catholic University (UCA).
The study, initially published by the newspaper Ámbito Financiero, placed the percentage of Argentines living below the poverty line at 57.4%, more than 26 million people.
In statements to the morning newspaper La Nación this Sunday, the director of the observatory, Agustín Salvia, indicated however that the report is “a statistical simulation” based on data “from the third quarter” of 2023. But “I don’t think we are very far away.” of what is happening,” he added.
In January, destitution, according to the study, would have reached 15% of the population, almost 7 million people, according to the specialist’s statements reported by Ámbito Financiero.
The data represents a jump during the first full month of Milei’s government, if compared to the 49% poverty and 14% indigence measured by the UCA in the last month of the year, in the midst of a strong fiscal adjustment undertaken by the Executive assumed in December.
It is also the highest figure, according to this private measurement, in the last 22 years.
”If inflation goes down there will be quick relief. Otherwise we will be facing a social catastrophe,” Salvia warned La Nación.
After a 50% devaluation of the peso, the liberalization of prices and strong rate increases, January inflation in Argentina reached 20.6% and the 12-month price increase was 254.2%. The year 2023, last of government of Alberto Fernández (center-left), closed with 211% inflation, 25.5% in December alone.
Official poverty data so far indicate 45% of Argentines do not meet their basic needs.
Javier Milei foresees a rebound in the economy in about three months. “You are going to make a sort of ‘V’, a first section falling, with the hardest moment around March-April, which is when you hit rock bottom and that’s where you start to rebound,” he estimated last week.
Source: Gestion
Ricardo is a renowned author and journalist, known for his exceptional writing on top-news stories. He currently works as a writer at the 247 News Agency, where he is known for his ability to deliver breaking news and insightful analysis on the most pressing issues of the day.
