With prices climbing, the poverty rate has climbed to about 40%
Argentina's economic activity rose 2.9% year over year, more than economists expected in January. Picture: Sarah Pabst/Bloomberg
“The situation is complex. Salaries are very low, things are very expensive. So sometimes it’s not enough,” said Armoa, a metal mould factory worker who is the technical director of a local soccer team and funds his own small business. “Our projection for the poverty rate ... is around 40%,” said Martín González Rozada, an economist and professor of econometrics at the Universidad Di Tella, adding it was likely even higher in the early part of 2023.
Many of Argentina’s nearly 46-million people are unable to pay for the total basic basket of goods and services, which costs 177,000 pesos a month .
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