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Poverty in Argentina soars to more than 50% as government austerity bites
...Argentina’s poverty rate soared to almost 53% in the first half of the year, official data released on Thursday showed, the first hard evidence of the painful impact of libertarian President Javier Milei’s tough austerity measures. That marked a steep jump from 41.7% at the end of last year and more than double the 26% just seven years ago, underscoring the severe cost to regular Argentines of repeated economic crises that have hammered the South American nation. ...
...Milei’s spending cuts have been cheered by markets and investors for helping right the state’s finances after years of deficits, but have pushed the country into a recession, despite signs the economy could now be bottoming out. ...
https://edition.cnn.com/2024/09/27/busin...index.html
Poverty in Argentina soars to more than 50% as government austerity bites
...Argentina’s poverty rate soared to almost 53% in the first half of the year, official data released on Thursday showed, the first hard evidence of the painful impact of libertarian President Javier Milei’s tough austerity measures. That marked a steep jump from 41.7% at the end of last year and more than double the 26% just seven years ago, underscoring the severe cost to regular Argentines of repeated economic crises that have hammered the South American nation. ...
...Milei’s spending cuts have been cheered by markets and investors for helping right the state’s finances after years of deficits, but have pushed the country into a recession, despite signs the economy could now be bottoming out. ...
https://edition.cnn.com/2024/09/27/busin...index.html
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