In a recent development within Argentina’s political landscape, the Congress upheld President Javier Milei’s veto against a proposed 8.1% increase in pensions amidst a backdrop of significant public protest and dissatisfaction. This decision comes at a time when Argentina is grappling with severe inflation rates, which have soared as high as 95% since the start of the year, exacerbating the financial hardships faced by retirees and the general populace. Despite recent measures to curb inflation, the country continues to see a rise in poverty levels, with a significant portion of its population living below the poverty line.
- Argentine Congress supported President Javier Milei’s veto of a bill intended to raise pensions by 8.1%.
- Public protests erupted outside the National Congress, marked by clashes with police, as inside, opposition failed to secure enough votes to override the veto.
- Argentina is facing an inflation crisis, with rates reaching as high as 95% since the beginning of the year, deeply affecting the purchasing power and living standards of its citizens, particularly the elderly.
- President Milei has implemented stringent austerity measures aimed at balancing the national budget, despite these leading to an increase in poverty.
- A report from the Catholic University of Argentina highlights that 55% of the Argentine population now lives below the poverty line, with 17.5% in a state of destitution, marking the highest rates since the 2002 Great Depression.
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