In the Spains of our rights do not usually use this term perhaps because of their prosodic difficulty. They talk about Bolivarian regime, formerly Chavismo, to lash out at the current left-wing government that has raised the minimum wage and wants to raise taxes on the richest. This is why here (and I fear that in other places too) "impoverishment" is understood only of the wealthiest classes, that is, as loss of privileges.
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