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Poverty and Shared Prosperity 2022: Correcting Course
October 12 , 2022
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- The World Bank released a report titled “Poverty and Shared Prosperity 2022: Correcting Course”.
- Global poverty reduction has been slowing down since 2015.
- By 2015, the global extreme-poverty rate had been cut by more than half.
- In 2020 alone, the number of people living below the extreme poverty line rose by over 70 million.
- This is the largest one-year increase since global poverty monitoring began in 1990.
- Given current trends, 574 million people (nearly 7% of the world’s population) will still be living on less than USD 2.15 a day in 2030, with most in Africa.
- Extreme poverty in India was 12.3% points lower in 2019 compared with 2011.
- Poverty headcount rate declined from 22.5% in 2011 to 10.2% in 2019.
- Poverty reduction was higher in rural areas compared with urban India as rural poverty declined from 26.3% in 2011 to 11.6% in 2019.
- In urban areas the decline was from 14.2% to 6.3% in the corresponding period.
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