Attachments
OVERALL PROGRESS
Context
In 2023, Argentina experienced both climatic and economic challenges, adversely impacting the daily lives of people in the country. A series of extreme weather events such as persistent heat waves reached record temperatures of 48.5°C causing significant rainfall deficits, with 2023 being the twentieth driest year since 1961. However, some areas such as Ituzaingó experienced recorded the highest daily rainfall of the year while the north of the Argentine Litoral region suffered floods and rising rivers as a result of heavy rains.
Argentina’s challenges also included economic hurdles such as inflation as high as 200%, the impact of drought on agriculture, and political uncertainty. The persistent high inflation eroded the purchasing power of the population, making it difficult to access basic goods and services. In addition, there was a gradual increase in the official exchange rate, which raised concerns about its impact on domestic prices and the competitiveness of Argentine exports in the international market. This also reflects the lack of confidence in the national currency and the country’s economic stability. Although the Central Bank’s reserves showed signs of some stability, they are still insufficient to cover the country’s economic needs, limiting the capacity to respond to possible financial crises.
There was a high rate of unemployment and insufficient creation of new jobs, which contributed to labour precariousness and hindered the improvement of the population’s living conditions. Poverty continued to be a significant problem in Argentina, with a large part of the population living below the poverty line, representing a major challenge for the country’s social and economic development.