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Argentina poverty rate rises to 40.1% in first half of 2023

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– Argentina’s poverty rate rose to 40.1% in the first half of 2023, the government’s INDEC statistics agency said on Wednesday, up from 39.2% in the second half of 2022.

Over the first half of 2022, it reported a rate of 36.5%.

Argentina, a country of some 46 million people, is rich in natural resources from cattle and corn to , but plagued by high inflation, years of cyclical debt crises and a historic drought that hit key agricultural areas last season.

The South American nation faces an annual inflation that surpassed 100%, ravaging the purchasing power of millions of Argentines.

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