Argentina drops Poverty From 42.0% to 40.6% in 2021 First Semester

Argentina’s poverty rate went down to 40.6 in the first half of the year from 42.0 percent in the second half of 2020.

Overall poverty in Argentina has eased after the COVID-19 pandemic triggered the country’s worst recession last year, according to a report by state statistics agency INDEC.

The report found that during the first quarter, family income increased by 32.4 percent while the total basket of goods increased only by 25.5 percent, allowing more households to afford more than their basic needs this year.

However, the proportion of citizens in extreme poverty increased by 0.2 percentage points from last year to 10.7 percent.

The reduction in poverty incidence mainly occurred in Greater Buenos Aires — the region holding a majority of Argentina’s population — and Patagonia, while other regions saw more poor households.

Argentina’s gross domestic product plummeted by 9.9 percent last year after drastic lockdown measures under the pandemic worsened a three-year long recession in the country.

Argentina also saw the most poverty increase in Latin America last year.

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