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Argentina poverty rate rises to 40.1% in first half of 2023

Published 2023-09-27, 03:08 p/m
© Reuters. FILE PHOTO: Demonstrators camp outside the Casa Rosada Presidential Palace, as unemployed and informal workers protest to demand more subsidies from the national government, at Plaza de Mayo in Buenos Aires, Argentina April 19, 2023. REUTERS/Mariana Nedel

BUENOS AIRES (Reuters) - Argentina's poverty rate rose to 40.1% in the first half of 2023, the government's INDEC statistics agency said on Wednesday, up from 39.2% in the second half of 2022.

Over the first half of 2022, it reported a rate of 36.5%.

© Reuters. FILE PHOTO: Demonstrators camp outside the Casa Rosada Presidential Palace, as unemployed and informal workers protest to demand more subsidies from the national government, at Plaza de Mayo in Buenos Aires, Argentina April 19, 2023. REUTERS/Mariana Nedelcu/File Photo

Argentina, a country of some 46 million people, is rich in natural resources from cattle and corn to natural gas, but plagued by high inflation, years of cyclical debt crises and a historic drought that hit key agricultural areas last season.

The South American nation faces an annual inflation that surpassed 100%, ravaging the purchasing power of millions of Argentines.

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