Argentina's Poverty Rate Drops to 38% Amid Mixed Results from Economic Reforms

Argentina's poverty rate fell to 38.1% in late 2024, a decrease of 14.8 percentage points from earlier in the year. Extreme poverty dropped to 8.2% from 18.1%, and inflation decreased from 276.2% to 66.9% year-over-year. Despite President Milei's austerity measures resulting in the country's first budget surplus in 14 years, many Argentinians are experiencing greater hardship due to rising costs for transportation, healthcare, and basic necessities.