Staunch libertarian Javier Milei has implemented a range of austerity measures since taking office. His government blamed previous administrations for the dire economic situation.
The poverty rate in Argentina reached 52.9% during the first six months of Javier Milei’s government, the national statistics agency reported on Thursday.
It marks the highest poverty rate since 2003, and a 11.2% increase compared to the second half of 2023.
The number of people living in extreme poverty grew by 3 million during the first half of 2024, according to the report.
The statistics agency calculates poverty by comparing household income with the cost of a basic basket of goods, which amounts to around $240 (€215).
Yeah. Even though I think right wing libertarian economics is naive, and guaranteed to fail, blaming this guy for the economy in his first 6 months is likely propaganda. Most economists don’t attribute economic performance to leadership until their own budgets and policies have been in effect for 6-12 months, which often isn’t until the 2nd half of their term. Obviously radical changes can have an immediate impact, but they tend to be rare.
Edit: A linked article states a radical inflationary policy, but provides no references or sources. Journalism fail!
Most world leaders don’t dismantle their entire system with the sense and carefulness of a coked up toddler from day 1.
Add a special animosity towards anything that provides stability and financial security to the country as a whole or any non-rich person and you get dramatic worsening of conditions REALLY fast no matter how bad it already was.
From the other commenters ap article, the economy he inherited was already run by coked up toddlers:
What, in your opinion, should he have done differently? Should he have kept the pre-existing train wreck?
I mean he made about 300 changes to the government in his first few days so his anarcho capitalist ideology might be the exception to your point.
I mean you don’t have to look far to find credible sources showing what his own adminstration admitted to doing.