Argentina's Poverty Rate Soars to Record High
57.4% of Population Now Living in Poverty
Severe Drought and Economic Crisis Fueling Rise in Poverty
Argentina's poverty rate has skyrocketed to 57.4%, the highest level in at least 20 years, according to a report by the Catholic University of Argentina. The rate, which measures the percentage of people living below the poverty line, increased from 40.1% in the first half of 2023.
The surge in poverty is being fueled by a severe drought that has curtailed economic growth and led to a sharp decline in agricultural production. The drought, which began in late 2022, has caused widespread crop failures and livestock losses, leading to job losses and a decline in incomes.
The economic crisis has also played a role in the rise in poverty. The country's economy has been in recession for two years, and inflation has soared to over 100%. This has made it difficult for many people to afford basic necessities, such as food, housing, and healthcare.
The government has taken some steps to address the poverty crisis, including increasing social welfare programs and providing food assistance. However, these measures have been insufficient to stem the tide of poverty, which has now reached its highest level in decades.
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