The loss of well-being is evidenced by the austerity and uncertainty in which millions of families live.

Argentina is experiencing one of the worst moments in its history. The economic policies implemented by far-right President Javier Milei have created a bleak outlook for the end-of-year holidays.

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With an annual inflation rate of around 120% combined with economic recession, opportunities for adequate employment and wages have dwindled. Stagflation has increased poverty in a country that recorded three million new impoverished individuals between January and September.

The loss of well-being caused by the Milei administration is evidenced by the austerity and uncertainty in which millions of Argentine families live. “Christmas shopping has been reduced to ‘nothing.’ What is left after going to the butcher and the supermarket? Half of my pension,” said a woman interviewed by teleSUR on the streets of Buenos Aires.

Even those with jobs lack sufficient income to afford Christmas gifts for their entire family and a traditional, abundant holiday dinner. “The Argentine table won’t be like in other years. A significant number of people are lining up at soup kitchens,” said another interviewee.

The impact of public spending cuts is felt not only in households but also in businesses. “The store is empty. The owner and the salespeople are just sitting around staring at each other,” a citizen said, describing the effects of reduced aggregate demand in Argentina.

According to a survey by the Argentine Confederation of Medium Enterprises (CAME), retail sales during this holiday season grew by only 1% compared to 2023, a year marked by a significant devaluation and a sharp drop in sales.

While certain sectors, such as clothing and electronics, showed slight increases, consumption remains far below pre-crisis levels. On average, Argentines spent about US$35, reflecting the lack of purchasing power among consumers, CAME reported.

Currently, 65.3% of Argentine children live in poverty, and 16.2% live in extreme poverty, according to the Social Debt Observatory of the Pontifical Catholic University of Argentina (UCA). In response to this dire situation, soup kitchens have become a refuge for those unable to secure daily food.

“The only thing we can do is organize ourselves,” said a cook, who recalled that former President Cristina Fernandez-Kirchner used to say, “With love, everything is possible.”

“We must support people on a human and emotional level,” affirmed a member of the social movement La Campora.

Meanwhile, the Excluded Workers’ Movement (MTE) organized a Christmas event in front of the National Congress, where over 4,000 homeless individuals gathered to receive food and gifts for children.

teleSUR/ JF Sources: Tiempo Argentino – CAME – UCA

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