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Poverty and Shared Prosperity Report 2020
October 13 , 2020
1504 days
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- It is a biennial report of the World Bank titled “Poverty and Shared Prosperity 2020: Reversals of Fortune”.
- It provides a global audience with the latest and most accurate estimates on trends in global poverty and shared prosperity.
Highlights
- The study finds that on average, poverty levels will be set back 3 to 10 years due to Covid-19.
- The COVID-19 pandemic is estimated to push an additional 88 million to 115 million people into extreme poverty this year.
- The pandemic and global recession may cause over 1.4% of the world’s population to fall into extreme poverty.
- Global extreme poverty rate is projected to rise by around 1.3% to 9.2% in 2020.
- If the pandemic would not have been there, the poverty rate was expected to drop to 7.9% in 2020.
- Sub-Saharan Africa and South Asia will be badly hit as per the Bank’s projections.
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