33.6% of the Argentine population is poor. This is what the Social Debt Observatory of the Catholic University of Argentina registered in the third quarter of 2018. This is the highest rate of poverty over the last ten years –
"The incidence of poverty in this period reaches a higher level than those registered in 2016, when inflation and the decline in purchasing power increased due to significant devaluations," says the UCA study.
In the Social Debate Observatory report, among the reasons that make poverty the biggest, over the last decade, between the third quarter of 2017 and the same period of 2018, "the Argentinean economy has moved from the cycle of growth to a strong recession, and the currency devaluation in the current year has been transferred to prices and caused high inflation. "
"The new scenario has affected the real income available to households due to a deterioration in the purchasing power of wages, retirement pensions and social benefits," says the UCA study.
The Social Debt Observatory also believes that "the macroeconomic framework has proved unfavorable to create jobs, which has implications for the chances of households turning more workers into the labor market."