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Inequality causing poverty: World Bank

Eliminating poverty is proving a tough call, especially in the Asian countries

Policy Pulse
Publish Date: Oct 3 2016 11:49AM | Updated Date: Oct 3 2016 11:49AM

Inequality causing poverty: World Bank

Extreme poverty has been decreasing around the world, but complete elimination of it is not paced up due to unequal distribution of the gains of economic growth, the World Bank said.

 

Unless the gains of growth are steered better to those at the bottom of a country's economy, they would be left behind, like always warned the "Poverty and Shared Prosperity" report.

 

The report said economic growth, particularly in China, India and Indonesia, has led to a dramatic reduction in global poverty.

 

In 2013 -- the latest year with comprehensive data; some 767 million people were living below the global poverty threshold of $1.90 per day, says a report.

 

"The world had almost 1.1 billion fewer poor in 2013 than in 1990, a period in which the world population grew by almost 1.9 billion people," the report of the World Bank said.

 

The biggest concentration remains in sub-Saharan Africa, with 41 percent of people mired in utter poverty, many of them rural based with little access to education.

 

In South Asia, the figure is 15.1 percent; Latina America and the Caribbean, 5.4 percent; and East Asia and the Pacific, 3.5 percent.