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Poverty in Argentina

Argentine Catholic University determined the poverty level in Argentina for 2016. It was found that the percentage of people living under the poverty line increased from 29 percent in January 2016 to 32.6 percent in April 2016. This means that 13 million Argentinians are currently living in real poverty. Therefore, necessary steps need to be taken to reduce poverty now that winter is coming.

Marci, president of Argentina, announced his plan to provide aid to people living in the poorest regions of the country. The reason for this is the increasing poverty rates from past months that is due to high inflation in the country.
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5,000 shops have already closed this year because of increases in utility bills and inflation

According to the Fedecamaras organization, an organization representing businesses, around 5,000 shops and 500 small to medium-sized businesses (PYMEs) had to close because of inflation and the inability to pay the increasing tariffs.

The head of Fedecameras, Ruben Manusovich, informed the press that small shops can’t face the increase in utility costs, nor the higher cost in supplies. Sales cannot make up for these increasing costs, and the businesses are therefore left without a profit margin.

Compared to other years, sales in May decreased by 10 percent because inflation has decreased purchasing power. (more…)

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Inflation will drop due to unemployment

Argentine labour leader Hugo Moyano has criticized President´s Mauricio Macri´s government heavily. Moyano said that “you must take things as they come. He has no political experience, and that makes you make those kinds of mistakes, but at this stage, it’s not surprising, and a lot less considering what is happening and without giving answers.” Moyano insisted unions in Buenos Aires may launch a national strike in the next coming days, because “everyone knew the economic situation left by the previous government was complex, with a complex social scene. (more…)

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Inflation in Argentina

The inflation rate for Argentina in 2016 was forecasted to be 25%. President Mauricio Macri’s administration acknowledged that inflation will probably go beyond the predicted ceiling of 25%.

Despite this confession, he says the percentage can still change as the months pass, like any inflation. But there doesn´t seem to be much hope with the increasing price in gas and water of 300% and the increasing price of public transportation of 100% since April. (more…)