MILEI'S COLLAPSE
đŠđ· The hard number that explains why Milei's economy is having a hard time getting going
Official data processed by private sources show a drama that could not have hit rock bottom
Since 2017, Argentines' wallets have not stopped creaking
It is an adjustment on top of an adjustment. And that is why the economy is having a hard time showing a firm recovery, despite the lukewarm rebound that some wallets are showing. Not all of them, of course.
The income of both the employed and the salaried fell more than 7% in real terms âconsidering the inflation of the periodâ in the first half, the first six months of Javier Milei's government, according to official data.
But the impact of this decrease in purchasing power is greater because, from mid-2017 âbefore the exchange rate race began in Mauricio Macri's governmentâ until now, those same incomes showed a collapse of more than 30%.
This is the conclusion of a study by the consulting firm ExQuanti based on data from the Income Distribution Evolution report published by Indec today for the second quarter. The report also indicates that among the strata that suffered the most from the impact of the price increase after the depreciation of the currency and the adjustments of other relative prices â in addition to the dollar â are the lowest segments of society. This also explains, in part, the increase of more than ten points in poverty in the first half of the year. It reached 52.9% and affected more than 25 million Argentines.
