Argentine middle class shrank in 2020, says World Bank

A man walks through a park in Puerto Madero wearing a face mask to protect himself from the coronavirus during the Covid-19 pandemic in Buenos Aires| Photo: Bigstock/Carolina_J

The Argentine middle class shrank in 2020, amid the pandemic and the restrictive measures imposed to contain the spread of the disease. The World Bank estimates that in 2019, 51% of Argentina’s population was considered middle class – earning between US$13 and US$70 a day. A year later, that number has dropped to about 45%.

Organization technicians explained to the newspaper bugle that the estimate is based on a survey carried out by the Argentine statistics institute Indec and that it represents 29.8 million Argentines. With this, it is considered that, in the last year, about 1.7 million Argentines left the middle class. If the projection were extended to the entire Argentine population, the number of people who left the middle class would be around two million.

Meanwhile, poverty has increased in the country. In April, Indec reported that at least 42% of Argentines were considered poor and that 10.5% of the population was living in poverty. At the end of 2019, poverty reached 35.5% of the population.

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