Argentina's Gross Domestic Product (GDP) has fallen 0.7% so far in 2021, which in addition to declines in 2018, 2019 and 2020, has led the country's economy to historic lows.
Middle-class families are seeing their incomes stagnating as they are squeezed by the ultra-rich taking a bigger slice, says an international report from the OECD economics think tank.
The influential business newspaper Financial Times dedicated a special edition to the Chilean economic and social situation and concludes that given the massive demonstrations against energy projects and in favour of education reform, “doing business” in the country has become difficult plus there is growing disappointment in the middle class.
Brazil's middle class which now numbers 104 million equivalent to 53% of total population (38% ten years ago), is likely to move 1 trillion Reais this year (approx a trillion dollars), government estimates show.
Latin America’s middle class increased by 56 million since 1999 with a direct consequence on consumption patterns and demand for government policies, according to a report in the latest edition of the United Nations Economic Commission for Latin American and the Caribbean, ECLAC Review.