Argentina’s poverty rate fell to its lowest level since 2018, a win for President Javier Milei ahead of a crucial election next month.
The national statistics agency said around 32% of Argentinians lived in poverty during the first half of the year, down from 53% when Milei took power in late 2023.
The self-styled “anarcho-capitalist” has overseen a remarkable economic turnaround, bringing double-digit monthly inflation growth down to 2% in August, while boosting output to the highest rate in years.
However, sharp spending cuts have angered many, while a recent electoral defeat for his party worried investors ahead of a key legislative vote in October. Washington recently vowed to prop up the economy in support of Milei, a close ally.
