Poverty in Argentina Reaches Highest Level in 20 Years at 57.4%

A report from the Argentine Catholic University, reported by local media on Sunday, states that poverty levels in Argentina have reached 57.4% in January, the highest level in at least 20 years. The report added that the devaluation of the peso implemented by President Javier Milei shortly after taking office in early December, along with the resulting price increases, exacerbated poverty levels, which ended the year at 49.5%. Milei, affiliated with the liberal movement, stated in a social media post late Saturday: "The true legacy of the classist model: Six out of ten Argentinians suffer from poverty." The Argentine Ministry of Economy reported on Friday a budget surplus of 518.41 billion pesos ($620.85 million) for January, marking the first positive figure since August 2012.