January 24, 2018

154,000 people in destitution at end of 2016

Friday, May 12, 2017

Poverty in capital clocks in at 18.9 percent

At the end of 2016, 18.9 percent of the residents of Buenos Aires City fell below the poverty line, with five percent of the total population considered destitute.

The figures, published by the City’s statistical directorate, refer to the last quarter of 2016 and are used by comparing the cost of baskets of goods with incomes. According to the City, 578,000 people out of just over three million are considered to be poor and 154,000 are living in destitution. Furthermore, another 266,000 people are considered to be “vulnerable but not poor” — about 8.7 percent of the population.

The City defines the “vulnerable” group as having an income that surpasses the basic food basket (Canasta Básica Alimentaria, CBA) but doesn’t quite reach the Total Basket (Canasta Total, CT), as set out by the City. Those considered destitute cannot purchase the CBA and those living in poverty do not have the means to acquire the Basic Total Basket (Canasta Básica Total, CBT) but can acquire the CBA. As of March 2017, the CBA for a two-person household in which both parents aged 35 work, own their home and have two children also owns the home was calculated to cost 7,260 pesos. The CBT was estimated at 14,620 pesos and the CT clocked in at 18,686 pesos.

The “middle” middle-class makes up 52 percent (1.52 million) of the City, the “fragile” middle class constitutes nine percent of the population (276,000), official data shows. Fragility in this case means being able to purchase the CT but not 1.25 the value of the CT. Just over 11 percent of the City (346,000) is considered “wealthy,” implying that they can purchase four times the value of the CT.

TheINDEC national statistics bureau reported a 30.3 percent poverty rate for the entire country in March of this year.

— Herald staff

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Edition No. 5055 - This publication is a property of NEFIR S.A. -RNPI Nº 5343955 - Issn 1852 - 9224 - Te. 4349-1500 - San Juan 141 , (C1063ACY) CABA - Director Perdiodístico: Ricardo Daloia