Milei accuses political “caste” after study that shows 57% poverty in Argentina

The president of Argentina, Javier Milei, accused the political “caste” (leadership) of being responsible for the poverty that affects 57% of the population, according to data from an academic study. “The true legacy of the caste model: 6 out of 10 Argentines are poor. The destruction of the last hundred years has no parallel in the history of the West”, launched the ultra-liberal president on Saturday night on the social network.

The study, initially published by the journal Financial sphereplaced the percentage of Argentines living below the poverty line at 57.4%, more than 26 million people.

WATCH: Cristina Kirchner accuses Javier Milei of taking Argentina “to the brink of shock”

Speaking to the morning newspaper La Nación this Sunday, the director of the observatory Augustine Sálviaindicated, however, that the report is “a statistical simulation” based on data “from the third quarter” of 2023. But “I don’t think we are very far from what is happening”, he added.

In January, poverty, according to the study, reached 15% of the population, almost 7 million peopleaccording to expert statements reported by Ámbito Financiero.

The data represents a jump during the first full month of Milei’s government, compared to the 49% of poverty and 14% of indigence measured by the UCA in the last month of the year.amid a strong fiscal adjustment undertaken by the Executive that took office in December.

It is also the highest value, according to this private measurement, in the last 22 years.

“If you download the inflation there will be quick relief. Otherwise we will be facing a social catastrophe”, warned Salvia to La Nación.

After a 50% devaluation of the peso, price liberalization and strong rate increases, January inflation in Argentina reached 20.6% and the price increase in 12 months was 254.2%.

The year 2023, the last year of the government of Alberto Fernández (center-left), closed with inflation of 211%, 25.5% in December alone.

Official data on poverty so far indicates that 45% of Argentines do not meet their basic needs.

Milei predicts an economic recovery in around three months.

“You will make a kind of ‘V’, a first section falling, with the most difficult moment around March-April, which is when you hit rock bottom and start to recover,” he estimated last week.

Source: Elcomercio

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I am Jack Morton and I work in 24 News Recorder. I mostly cover world news and I have also authored 24 news recorder. I find this work highly interesting and it allows me to keep up with current events happening around the world.