This article was last updated on April 16, 2022
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In order to deal with the growing inflation, Argentina has announced to raise welfare payment by 23% to keep up with it. However, this might exhaust the government reserves since they are already spending large amounts of money. The increased cost for the government is expected to be $520 million.
Speaking on the issue, the President Cristina Fernandez has said that welfare payments have had a positive impact on the society. Latin America has also seen progress through conditional cash transfer programs.
Official statistics of inflation state that Argentina is experiencing inflation of under 10%. However, very few people believe the statistics. The raise of welfare payments and monthly income limits highlights how much the money is getting devalued due to inflation.
The beneficiaries of the increase are said to span across 3.5 million children, both born and unborn. Mothers can start receiving the funding commencing from their second trimester of pregnancy. The per child payment for the poorest is expected at $64 per month and for lower-middle income families at $32 per month.
Despite everything, the program will transfer an amount of 2.8 billion per year to the underprivileged of Argentina.
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