Argentina's poverty rate soared to almost 53% in the first half of the year, official data released on Thursday showed, the first hard evidence of the painful impact of libertarian President Javier Milei's tough austerity measures.

Poverty in Argentina reached its highest level since the aftermath of the 2001 financial crisis in the first half of the year, as President Javier Milei unleashed a shock therapy program to put an already reeling economy back on its feet.

Poverty in Argentina rose to over 52 percent of the population in the first six months of self-declared "anarcho-capitalist" Javier Milei's presidency, according to data released Thursday by the INDEC statistics agency.

Argentina’s poverty rate soared to almost 53% in the first half of the year, official data released on Thursday showed, the first hard evidence of the painful impact of libertarian President Javier Milei’s tough austerity measures.

Javier Gerardo Milei, President of the Argentine Republic, addresses the General Debate of the 79th Session of the General Assembly of the UN. (Credit: UNTV)

The poverty figure for the first six months of this year was 52.9%, up from 41.7% in the second half of 2023, said the country's Indec statistics agency. Since taking office in December, Milei has slashed subsidies for transport,

Argentina’s poverty rate has surged to 52.9 per cent under its government’s austerity programme, in a warning sign for libertarian President Javier Milei as his popularity falters. The rate, published by the national statistics agency on Thursday,

Argentinas poverty rate has surged to 52.9%, its highest level since the 2001 crisis. President Javier Mileis austerity measures aimed at reducing inflation have severely impacted households, with inf