A new report from the Catholic University’s Social Debt Observatory analyzing the effects of poverty in Argentina shows that 33.6 percent of Argentines are poor.
This is a 5 percent increased compared to the previous year, when the number was around 28.7 percent and seemed to be decreasing. To put that into more concrete figures, according to this study, in the past year alone 2.2 million people in Argentina have fallen below the poverty line.
“During 2018, the macro-financial instability, coupled with the effects of the drought on agricultural GDP, consolidated an external crisis that ended with a sharp depreciation of the peso, an acceleration of inflation and a fall in real wages. This implied a fall of domestic consumption and the beginning of a new stagflationary cycle, with low income families falling below the poverty line”, the report details.
The document confirmed that Argentina is dealing with the highest poverty rate in the country at least since 2010.
According to the UCA: “Destitution affects more intensely the social segments of the marginal working class and households in the Buenos Aires suburbs, in both cases, where indigence increased significantly as of 2014, reaching in the third quarter of 2018 to 19.6 percent and 8.9 percent of the population, respectively. “
The Social Debt Observatory, headed by Agustín Salvia, gained respectability and significance during the Cristina Kirchner era, during the INDEC’s statistical blackout, as the government wasn’t offering any reliable statistics. Since it was formed it has been credited with accurately evaluating how poverty in Argentina expands or contracts, beyond the unreliable official data.
This has presented to be a tough challenge for Cambiemos, given that President Mauricio Macri had asked that his management be evaluated in relation to his success in terms of poverty reduction. Just last week, a jarring new study by UNICEF, created in conjunction with several local universities, has revealed that 48 percent of Argentina’s children and adolescents under 18 were poor.