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The richest have more money than 50% of Salvadorans

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According to a study released by the organization Oxfam, the richest 1% of El Salvador have four times as much new wealth as the poorest 50%.

The report, titled ‘Rule of the Richest People’, notes that multiple crises are causing inequality in countries like El Salvador. However, it is a phenomenon that has been fostered for decades due to lack of public and social policies.

In addition to this, El Salvador has been identified as one of the countries most vulnerable to debt servicing, accounting for 82% of Gross Domestic Product (GDP). Argentina, on the other hand, has 75% and Ecuador 62%.

The document shows that out of every $100 of new wealth created in Colombia over the past decade, $45 went to the richest 1%, and only $12.40 went to the poorest 50% of society. increase.

In Honduras and Guatemala, the portion changes. Oxfam notes that between 2020 and 2021, the richest 1% in each country earned 7 times more new income than the poorest 1%.
Purchasing power increases.

In Latin America, the wealth of billionaires in the region increased by 21% between March 2020 and November 2022. At the end of last year, there were 91 of him in that social class, and his purchasing power was $398.2 billion.

“In fact, one in three of these billionaires (30 total) has emerged since the pandemic, with a combined wealth of $66.1 billion accumulated among them,” the document details. I’m here.

Oxfam notes that the increase is represented by $68 million a day in the pockets of the richest and $475 million a week.

Only 10 out of 91 people are women, so most of the people with nearly $400 billion are men. In addition, 17 of these Latin American billionaires live in countries where inheritance, gift and inheritance taxes do not apply, leaving at least $158.6 billion to continue promoting the circle of wealth. Become.

Brazil has 56 of the 91 richest people in Latin America, while Mexico has the region’s richest man, Carlos Slim, who has increased his wealth by $25.5 billion since the start of the pandemic.

“The sectors concentrating the greatest wealth are the energy, mining, finance, entertainment and health sectors,” said the report.

poor.

Oxfam said Latin America’s billionaire wealth rose 21%, but the majority of the population will lose 10% of their income between 2020 and 2022, affecting 201 million people, of whom 8,200 It emphasizes that millions of people are in poverty.

The analysis highlights that by the end of 2022, 4 in 10 people in the region will be food insecure.

The organization stresses that there is a tighter public policy and higher interest rates in the United States, along with high inflation, and that public funds are more scarce.

Source: Diario.Elmundo

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