Argentina protests against rising prices, high inflation

  20 April 2018    Read: 1276
Argentina protests against rising prices, high inflation

Since taking office in December 2015, McCreery has been gradually cutting subsidies in an effort to reduce the budget deficit under his predecessor, but this has sharply raised inflation.

Thousands of people took to the streets of Argentina on Thursday night to protest against dramatic increase in gas and electricity prices as President Mauricio Macri continued to cut subsidies.

Since taking office in December 2015, Macri has been gradually cutting subsidies in an effort to reduce the budget deficit under his predecessor, but this has sharply raised inflation and made containment of price rises more difficult than originally expected.

Opposition MPs and allies told the president this week that small business owners and households would not be able to withstand the rising prices of services.

Protesters held candles to express their solidarity with those who could no longer pay for the lighting of their homes as electricity prices rose dramatically and approached the Capitol building in Buenos Aires demanding the suspension of the increase in prices.


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