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Argentina faces unprecedented poverty

19 February 2024 20:40 (UTC+04:00)
Argentina faces unprecedented poverty

​By Alimat Aliyeva

In January 2024, the poverty rate in Argentina rose to 57 percent, Azernews reports, citing The Rio Times website.

The devaluation of the peso has led to a rapid impoverishment of the population. As a result, the purchasing power and standard of living of the population have also decreased.

Research shows that without government assistance, the poverty rate would have become even more severe. Experts emphasize the importance of joint efforts of all government agencies to solve the problem and achieve sustainable development.

"For many years, Argentina's economy has been shaped by politics and changes in the global market. The increase in poverty is a result of the financial crisis. Inflation has become a problem that has been putting pressure on savings and wages for a long time," says an article published in the newspaper.

According to experts, although social programs have a positive impact on the problem, sustainable economic growth and a more equitable distribution of wealth are necessary for the complete eradication of poverty.

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