Argentina's Poverty Rises Amid Milei's Austerity Measures

Argentina witnessed a slight increase in poverty levels in the latter half of 2023, attributed to soaring inflation and President Javier Milei's austerity measures. Government data revealed that approximately 41.7% of Argentines lived in poverty, a surge from 40.1% in the previous period, approaching the pandemic peak. The situation is expected to exacerbate as Milei implements harsh spending cuts, intensifying the impact on households. The measures have fueled concerns about the welfare of the populace and the overall economic stability of the country.