Economy in Argentina: impacts on working class, pensioners
According to Argentina's Ombudsman's office, the state has almost five million retirees trying to be living off minimum necessities, each pension receives around $320 a month, a third of what the average elderly person needs to live.
Dec. 6, 2024
ERBIL, Kurdistan Region (Kurdistan 24) - The economy crunch hits Argentina harder, in general and especially the working class and pensioners suffer from inflation, currency devaluation, declining real wages to the increasing of population living below the line set as the universal poverty standards.
According to the official sources in the country, the Central Bank (BCRA) maintained 2% per month since December 2023, to use a strategy to reinforce effects on inflation, but it's diminished and is making it harder to accumulate international reserves.
In September the country president and his cabinet vetoed a law that increased pensions by eight percent to decrease the impact on inflation, but the figures still stayed severe on the country infrastructure.
According to Argentina's Ombudsman's office, the state has almost five million retirees trying to be living off minimum necessities, each pension receives around $320 a month, a third of what the average elderly person needs to live.
Talking to media outlets, working class people including pensioners, revealing their hardship of life they go through over past years, especially since the new president started taking office to rule the country, Alicia Ceresoli, an 80-year-old Argentinean retired, was interviewed by AFP, is one of who can no longer afford buying the succulent steak.
However, Ceresoli feels lucky owning her small cozy home in the working-class Buenos Aires suburb of Villa Adelina, she is not affected by the new rent regulations, yet she used to treat herself with fresh flowers but now has to select plastic blooms to save pocket money that used to go on fresh flowers.
Protesters from activists and public would more often gather and chant that President Javier Milei's measures to rule and manage the economy, clearly pained and tipped millions of people into poverty life, they think his libertarian and anarcho-capitalist decisions demolished and affecting all.
The world media outlet reported that the protesters outside the Congress building are repeatedly tear-gassed and even beaten by riot police, the situation remains under surveillance by the state authorities as well as by the world.
Argentina has vast natural resources in energy and agriculture, a land of 2.8 million square kilometers territory, extraordinary fertile lands, gas, and lithium reserves, experts believe there is great potential for renewable energy, the country is a leading food producer with large-scale agricultural and livestock industries, according to the data by the World Bank organization.
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