In the second half of 2024, poverty in Argentina reached 38.1 % of the population and thus marked a significant reduction compared to the 52.9 % observed six months earlier due to devaluation, inflation and austerity policy, which was cited by President Javier Milei.
The poverty limit is set to 342,000 pesos (approx. 313 dollars), and the need for indigenous also decreased from 18.1 % to 8.2 %.
In addition, the government praised the effects of its policy on combating inflation based on “economic freedom” and “budget responsibility”.
Although inflation has dropped (from 211 % to 117 %), the economy remains with a contraction of -1.8 % and job losses in a recession.
