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Poverty surges by 11 points under Milei, hitting 53%

According to the INDEC, a record 25 million Argentines are poor while the number of destitute doubled to 5.3 million in the past six months

A government report published on Thursday afternoon revealed that an average of 52.9% of Argentines were poor in the first half of the year and 18.1% were destitute. It is the country’s highest poverty rate in 20 years.

The numbers, released by the INDEC statistic bureau, show that in the first six months since President Javier Milei took office, poverty grew by 11.2 points and destitution by 6.2. That means 5.1 million Argentines fell into poverty in that time, amounting to 25 million poor people in total. Meanwhile, the report revealed a total of 8.3 million destitute Argentines: almost double the number in the first half of 2023. The 11-point increase in the span of six months is a historic one — poverty increased by six points throughout Alberto Fernández’s presidency.

Roughly two-thirds (66.1%) of children between 0 and 14 years old live in poverty, according to the INDEC’s numbers. An August report by UNICEF found that one million Argentine children skipped meals daily because their families could not afford food. Meanwhile, those over 65 years old went from 17.6% poverty in the second half of 2023 to 29.7% in the first half of 2024. The highest poverty numbers were found in the Northeast and the Northwest of the country, with 62.9% and 57%, respectively.

The INDEC considers a family “destitute” when their monthly income is less than the basic food basket. A family is considered to be in poverty if they earn less than the basic food basket plus services, known as the total basic basket.

A report by the Center of Argentine Political Economy (CEPA), published after the INDEC released their numbers, said that food inflation in the first half of the year was 9.4%, higher than the first half of 2023, when the number was 7.7%.

“As food prices determine the levels of the basic food basket and, to a large extent, of the total basic basket, a significant increase in food inflation implies upward pressures on the incidence rate of destitution and, in part, of poverty,” the report said.

The CEPA report added that unemployment rose to 7.6% in the first half of 2024, meaning one percentage point more than the first half of 2023. It added that the minimum retirement pension fell by 19.7% during the same time periods. At the beginning of the month, Milei vetoed a pension reform that would have put their minimum value just over the poverty line.

The Presidential Office has yet to comment on the significant increase in poverty. However, at 4:00 p.m., coinciding with the INDEC’s report, the president’s sister and General Secretary Karina Milei posted a picture of herself, her Bernese mountain dog Thor, and TV personality Susana Giménez. Videos of the president with Giménez on the Casa Rosada balcony surfaced on social media shortly afterward and were met with considerable backlash. A spokesperson for the office said that Manuel Adorni would address the issue on Friday in his usual press conference.

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