In 2020, the number of extremely poor people in the world increased for the first time in 20 years. These are mainly citizens of countries with middle income.
Due to the coronavirus pandemic this year, the number of extremely poor people in the world has increased by 100 million, by the end of 2021 an increase of another 50 million is expected. This forecast was made by the World Bank on Wednesday, October 7.
For example, people who live on less than $1.9 a day are considered extremely poor. According to experts, in 2020 their number will reach 9.1-9.4% of the world’s population. If not for the COVID-19 pandemic, this level would not have exceeded 7.9%.
“To reduce poverty, states need to prepare for economic changes following the COVID-19 pandemic by ensuring the movement of capital, labor, and innovation into new lines of business,” said WB Group President David Malpass.