DW News published this video item, entitled “Argentines head to the polls amid soaring inflation & poverty | DW News” – below is their description.
Unemployment, inflation and the handling of the pandemic are fueling anger among Argentines as they head to the polls for midterm elections.
President Alberto Fernandez and his Peronist party are in danger of losing control of Congress, which would make governing in the second half of his term even harder. His first two years saw the economy contract, with the jobless rate hitting double digits and inflation spiraling out of control. More than half of the country’s children now live in poverty.
Groceries have become a big expense for many Argentines. Rising prices mean a trip to the supermarket is taking bigger and bigger chunks out of their pay checks.
Inflation broke 50 percent this year and is one of the highest in the world. Prices for daily items have gotten so bad that the government put a 90-day price freeze on 1,400 products, including food and hygienic items.
Unions have taken to the streets in recent weeks. Not only are they demanding better jobs with a wage that keeps pace with inflation, but many are angry that the government is prioritizing international debt reduction, instead of raising the minimum wage.
The once rich country remains in a severe economic and financial crisis. Analysts point to the bloated state apparatus, low productivity, and a large shadow economy. Meanwhile the peso is sinking and the mountain of debt is growing. Sunday’s elections will show whether voters choose to empower or disempower their president’s economic policies.
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