Argentina faces highest indigence rate in nearly 20 years amid inflation crisis | Video

Buenos Aires, Mar 27 (EFE).- Urban indigence rates in Argentina have reached an alarming peak of 11.9 percent in the second half of 2023, marking the highest level in almost two decades.

This increase in extreme poverty, where people are unable to meet their basic food needs, is largely attributed to the country's rising inflation rates.

With the cost of living skyrocketing and the national economy contracting, even those who are employed find themselves struggling with the rapid depreciation of their incomes against the cost of essentials.

The situation is particularly acute for the under-14s, with almost 60% living in poverty and some 19% unable to afford basic food needs.

The outlook for 2024 remains bleak as inflation continues to outpace income growth, despite a slight slowdown, and public aid is declining in real terms under a severe economic adjustment plan initiated by President Javier Milei. (Camera: ALBERTO CARATOZZOLO).

ARCHIVE FOOTAGE OF HOMELESSNESS AND POVERTY IN BUENOS AIRES, ARGENTINA.

Metadata

Date: 28/03/2024 01:32 (UTC)
Credit: EFE
Source: EFE
Topic: Social issue » Poverty
Type: Rough cut
Duration: 205 seconds
Reference: 7001349463
Relevance: Normal