12 January 2024
Residents in Buenos Aires share their daily struggles amid the terrible economic situation in Argentina, where inflation has surged to 211% in 2023, according to the statistics agency on Thursday. The country struggles with an economic crisis which the new President Javier Milei has vowed to address by cutting state spending.
Milei took office in December after winning an election victory on a wave of fury over the country's decades of economic crises marked by debt, rampant money printing, inflation and fiscal deficit. According to the INDEC agency, monthly inflation in December stood at 25.5 percent while the annual figure over 12 months was 211.4 percent.
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