Argentina’s Poverty Rate Soars to 53% Under President Milei’s Austerity Measures

The drastic economic reforms have led to severe inflation and recession, impacting millions of Argentines.

Argentina's poverty rate increased from 41.7% to 52.9% in the first six months of President Javier Milei's term.
The extreme poverty rate also surged, rising from 11.9% to 18.1%, marking the highest levels since the 2003 financial crisis.
President Milei's austerity measures included dismantling price controls, cutting subsidies, and devaluing the peso by 54%, leading to a recession and a significant contraction in spending power.
Inflation remains a critical issue, with annual rates exceeding 230%, despite a reduction in monthly inflation from 25.5% to 4.2%.
The middle class has been severely affected, with many Argentines losing jobs, cutting back on basic expenses, and relying on social assistance and informal work.