MercoPress. South Atlantic News Agency

Per capita income, 3,700 US dollars.

Argentina's per capita income after dropping 60% in 2002 will reach 3,700 US dollars in 2004, which is still below Chile and Mexico, and a mere 7% of the average Swiss per capita income.

According to Ecolatina, a consulting and advisory agency, Argentina with sustained moderate growth rates could reach the 5,500 US dollars per capita in 2010. Nevertheless Argentina is far off from India that figures with 600 US dollars per capita.

Argentine statistics also indicate that 60% of families in the country's 28 main districts are still living below the poverty line since they can't afford the Total Basic Basket that in October was equivalent to 250 US dollars.

The average monthly income of these families is below 249 US dollars, and 60% of them (overall 36%) can't even afford the Basic Food Basket (125 US dollars) since their incomes range between 90 and 120 US dollars per month.

Retail prices in Argentina since the big crash in December 2001 have increased an average 45,4%

Further on Ecolatina appealed to the "Big Mac" index to establish that the Argentine Peso, together with the Chinese Yuan, Russian Rubble and Brazilian Real, belong to the group of world currencies most undervalued.

If the Big Mac costs 2,65 US dollars in the US and 1,30 US dollars in Argentina, this means that the Argentine peso is undervalued 52% against the greenback.

Among Latinamerican countries Mexico seems the most stable with per capita income steadily growing an accumulated 27% since 1999 and is expected to reach 6,200 US dollars in 2004. Another interesting case is Chile that in spite of much slower growth during the last four years has managed a 10,000 US dollars per capita income.

In the Far East among the emerging economies South Korea outstands with 12,000 US having started with 780 US dollars in 1999.dollars income per capita, while China is expected to reach 1,120 US dollars in 2004

Russia that has gone through experiences similar to those of Argentina had a per capita income of 1,300 US dollars in 1999 and should reach 3,600 US dollars in 2004.

In the rest of developing Europe, Hungary is top of the list with 10,000 US dollars per capita and Turkey in the other extreme with 3,400 US dollars.