27 Million People in Argentina Fall into Poverty | WPN World People News

The economy of Argentina continues to deteriorate. According to statistics, the poverty rate reached 57.4% in January this year, a new high in 22 years, and it is estimated that 27 million Argentines have fallen into poverty.

Argentine media reports that due to severe inflation, the economic pressure on the Argentine people is heavy, and the number of poor people has surged. The poverty rate was 44.7% in the third quarter of last year, rose to 48.5% in December, and directly soared to 57.4% in January this year. This means that 6 out of every 10 Argentines are poor, setting a new high since the Argentine UCA Social Debt Observatory began keeping statistics in 2004.

The report pointed out that currency depreciation and price increases are the reasons for the rise in the poverty rate. It is expected that under the impact of unemployment and economic downturn, the poverty rate may continue to rise in February.

Argentina's newly elected far-right liberal President Javier Milei blamed the poverty on the country's existing "political class" and admitted that the situation will further deteriorate in the coming months, with the most difficult time being between March and April. Milei also posted on social media emphasizing that politicians must understand that the people vote for change, and we will dedicate our lives to promoting change.