The Myle economy is in trouble

🇦🇷 A cold number reveals why the Myle economy is struggling to get off the ground

Official data processed by private institutions show that the situation has hit rock bottom

Since 2017, Argentines' wallets have never stopped

This is an adjustment on top of an adjustment. That's why, despite a slight recovery in some wallets, the economy is still struggling to show a solid recovery. Of course, not everyone's wallet has recovered.

According to official data, in the first six months of Javier Myle's government, that is, the first half of the year, real incomes (taking into account inflation) fell by more than 7% for both workers and office workers.

But the impact of the decline in purchasing power is greater, because these incomes have collapsed by more than 30% since mid-2017 (before the exchange rate war of Mauricio Macri's government).

This is the conclusion of the consulting firm ExQuanti based on the second quarter "Evolution of Income Distribution Report" released today by Indec. The report also pointed out that after adjusting for currency depreciation and other relative prices (except the US dollar), the impact of price increases is the lowest social groups. This also partially explains why the poverty rate rose by more than 10 percentage points in the first half of the year. The poverty rate has reached 52.9%, affecting more than 25 million Argentines.

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