9/8/2023 0 Comments In 2014, the united states defined poverty as the state in which anyone is surviving on less than![]() Given current trends, 574 million people-nearly 7 percent of the world’s population-will still be living on less than $2.15 a day in 2030. The recent crises have pushed the world further off track from the global goal of ending extreme poverty by 2030. The recent setbacks took place when the speed of progress toward poverty reduction was already slowing, in tandem with subdued global economic growth. By the end of 2022, as many as 685 million people could still be living in extreme poverty. Rising food and energy prices-fueled in part by the war in Ukraine and by climate shocks and conflict-have hindered a swift recovery. The poorest also faced large setbacks in health and education which, if left unaddressed by policy action, will have lasting consequences for their lifetime income prospects. Their income losses were twice as high as the world’s richest, and global inequality rose for the first time in decades. The world’s poorest people bore the steepest costs of the pandemic. The global extreme poverty rate reached 9.3 percent, up from 8.4 percent in 2019. The number of people in extreme poverty rose by 70 million to more than 700 million people. But the trend was interrupted in 2020, when poverty rose due to the disruption caused by the COVID-19 crisis. This mission underpins our analytical, operational, and convening work in about 140 client countries.įor three decades, the number of people living in extreme poverty- defined as those who live on less than $2.15 per person per day at 2017 purchasing power parity-was declining. The World Bank Group’s goals are to end extreme poverty and promote shared prosperity.
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