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In the presidential elections in South American Argentina, government candidate Sergio Massa is surprisingly in the lead. The Minister of Economic Affairs of the left-wing Unión por la Patria (Union for the Fatherland) received about 36 percent of the votes, the electoral office announced on Sunday evening (local time) after counting about 80 percent of the votes. The libertarian populist Javier Milei, previously considered the favorite, came second with 30 percent. Massa and Milei will therefore probably compete against each other in a second election on November 19. The future president will take office on December 10.
South America’s second-largest economy is in deep economic crisis: the inflation rate is 138 percent and about 40 percent of people in the once-wealthy country live below the poverty line. Argentina suffers from a bloated state apparatus, low industrial productivity and a large shadow economy that deprives the state of much tax revenue. The national currency, the peso, continues to lose value against the US dollar and the mountain of debt continues to grow. (SDA)
Source: Blick
I am Amelia James, a passionate journalist with a deep-rooted interest in current affairs. I have more than five years of experience in the media industry, working both as an author and editor for 24 Instant News. My main focus lies in international news, particularly regional conflicts and political issues around the world.
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