ECLAC: Poverty and indigence escalate in Venezuela
Poverty in Latin America slipped to 168 million people
The downward trend was reported in Paraguay (-5.2 points), Ecuador (-3.7 points) Peru (-3.5 points), Colombia (-3.1 points), Argentina (-2.9 points), Brazil (-2.0 points in 2009-2011) and Uruguay (-1.9 points), ECLAC's Social Panorama of Latin America 2012 report indicated.
Likewise, such countries were reported to have brought indigence down.
For its part, Venezuela, however, reported a slight increase in poverty and indigence rates (up 1.7 and 1.0 percentage points, respectively). Meanwhile, no substantial changes were recorded in Chile, Costa Rica, Panama, and the Dominican Republic. Changes in poverty were below 1% per year in these countries.
The report outlines, "The trends observed in the Bolivarian Republic of Venezuela and the Dominican Republic do not entirely coincide with those reported by the official statistical agencies of these two countries. These discrepancies are due to minor differences in methodology related to the price deflator used to adjust the poverty line and the criteria for calculating aggregate household income."
ECLAC concluded that the poverty rate in Latin America fell from 176 million in 2010 to 168 million in 2011, that is, 29.4% of the region's population, EFE cited.
Translated by Jhean Cabrera
President Nicolás Maduro is not only the heir to the throne, but also to an economic crisis which demanded urgent measures to rectify the course. The crisis showed up in two aspects: a 50% inflation estimate, and shortage of staples ranging between 70% and 98%. These issues might hit the President's poor popularity; considering his feeble electoral victory of 1% over his challenger.