The World Bank reported that the goal of ending extreme poverty by 2030 is unlikely to be achieved.
The Bank has published the 2022 issue of its Poverty and Shared Welfare Report.
Pointing out that the global progress towards reducing extreme poverty has come to a standstill, the report stated that it is unlikely that the world will reach the goal of ending extreme poverty by 2030, unless there are historically defying economic growth rates in the next 10 years.
In the report, it was noted that the Kovid-19 epidemic dealt the biggest blow to global poverty reduction efforts since 1990, and the war in Ukraine also threatened to make things worse.
THE MEDICINE PUSHED 70 MILLION PEOPLE INTO EXTREME POVERTY
In the report, which is estimated to have pushed approximately 70 million people into extreme poverty in 2020, the Kovid-19 epidemic is reported to be the largest annual increase since 1990, when global poverty began to be monitored.
The report said the number of people living in extreme poverty is estimated to rise 11 percent to 719 million in 2020.
In the report, which described 2020 as a historical turning point, it was stated that the poorest people bear the highest costs of the epidemic.
In the report, it was noted that income losses for the poorest 40 percent averaged 4 percent, which was twice the losses of the richest 20 percent.
60 PERCENT OF EXTREMELY POOR PEOPLE ARE IN SUB-SAFRICA
The World Bank’s report states that, given current trends, around 600 million people, mostly in Africa, will still be living on less than $2.15 a day by 2030.
Emphasizing that strong fiscal policy measures made a remarkable difference in reducing the impact of the Kovid-19 epidemic on poverty, the report stated that in the absence of a fiscal intervention, the average poverty rate in developing economies could be 2.4 points higher.
In the report, it was noted that 60 percent of the extremely poor people are in Sub-Saharan Africa and the poverty rate of the region is 35 percent.
“DETERMINED THAT THE TARGET CANNOT BE REACHED”
World Bank President David Malpass also said in a statement regarding the report, that the economic turmoil brought on by the Kovid-19 outbreak and subsequent war in Ukraine reversed the ongoing progress.
“It has become clear that the global target to end extreme poverty by 2030 will not be met,” Malpass said. made its assessment.
David Malpass stated that adjustments in macroeconomic policies are needed to improve the distribution of global capital, support currency stability, reduce inflation and restart the rise in median income.
*The visuals of the news were served by the Associated Press.