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International Business Times
International Business Times
World
Martin RASCHINSKY, Philippe BERNES-LASSERRE

Argentina's Battered Middle Class Shrinking Under Milei

Amid austerity measures from Argentine President Javier Milei, Samanta Gomez (R) and her partner moved in with her grandmother, and transferred her children from a private school into a public one (Credit: AFP)

Argentina's middle class is vanishing: with austerity cuts introduced by self-proclaimed "anarcho-capitalist" President Javier Milei, ever more people cannot afford schooling or medicine, even those holding down two jobs.

Inheriting massive levels of inflation and government debt, Milei has since taking office in December slashed subsidies for transport, fuel and energy, even as annual inflation soared to over 270 percent and wage-earners lost a fifth of their purchasing power.

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