Argentina's official poverty line is equivalent to 9,600 kronor per month, calculated for a family of four. 52.9 percent of Argentinians, or 15.7 million people, live below this line.
The proportion living in extreme poverty has increased to 18 percent during Milei's first six months as president, compared to 11 percent during the second half of last year.
The annual inflation rate is over 200 percent – one of the highest figures in the world – and has had a significant impact on the number of people considered poor.
In contrast to previous governments that kept the country's consumption up at the expense of a large budget deficit, Milei drastically reduced subsidies on energy and transport. The country's currency, the peso, was devalued by 54 percent in December last year after he took office. The austerity measures have resulted in a significant reduction in purchasing power and have dragged the country's economy into deep recession.
In January, the government reported its first monthly budget surplus in almost twelve years. However, critics argue that Milei's few victories have come at the expense of the poor and the working class.
