World Bank: The world will not be able to eradicate extreme poverty by 2030

World Bank: The world will not be able to eradicate extreme poverty by 2030 The World Bank said in a report that the world will not be able to eradicate extreme poverty by 2030, which is the deadline set by the United Nations as part of the Sustainable Development Goals adopted in 2015. The institution justified the delay as one of the many consequences of the COVID-19 pandemic.  The World Bank said in a report on Wednesday that the world will not be able to eradicate extreme poverty by 2030, the date set by the United Nations General Assembly as part of the Sustainable Development Goals adopted in 2015.  The foundation justified the delay as one of the many consequences of the Covid pandemic, which has recorded the worst rise in poverty since 1990, a trend that the war in Ukraine could boost, according to its annual poverty report.  About 70 million people will live in extreme poverty in 2020, according to the World Bank, which estimated that nearly 720 million people were living on less than $2.15 a day at the end of 2020.  The reason is that during the pandemic, the poorest 40% of the poor saw their income decline at a rate twice as high as the richest 40%, leading to an increase in de facto inequality, a precedent in recent decades.  "Our concerns stem from rising extreme poverty, declining wealth-sharing due to inflation, currency depreciation, and interlocking crises," World Bank President David Malpass said in the statement.  Sub-Saharan Africa is home to 60% of the poorest people, approximately 390 million people. The poverty rate was 35%.  In order to eliminate extreme poverty in this region by 2030, the World Bank estimates that 9% annual growth will be necessary in each of its countries by the end of the decade, “a particularly high level for countries with average per capita GDP growth 1.2 percent during the decade preceding the epidemic,” according to estimates by the World Bank.  For his part, World Bank Chief Economist Endermit Gale declared, "In the next decade, investing in improving health care and education will be critical to developing economies In the context of record debt and limited financial resources, it will not be easy."  Reversing this trend, the Foundation has called on all governments to better provide aid to the poorest, encourage investment in education, research and development, and introduce taxes that better take into account income.

The World Bank said in a report that the world will not be able to eradicate extreme poverty by 2030, which is the deadline set by the United Nations as part of the Sustainable Development Goals adopted in 2015. The institution justified the delay as one of the many consequences of the COVID-19 pandemic.

The World Bank said in a report on Wednesday that the world will not be able to eradicate extreme poverty by 2030, the date set by the United Nations General Assembly as part of the Sustainable Development Goals adopted in 2015.

The foundation justified the delay as one of the many consequences of the Covid pandemic, which has recorded the worst rise in poverty since 1990, a trend that the war in Ukraine could boost, according to its annual poverty report.

About 70 million people will live in extreme poverty in 2020, according to the World Bank, which estimated that nearly 720 million people were living on less than $2.15 a day at the end of 2020.

The reason is that during the pandemic, the poorest 40% of the poor saw their income decline at a rate twice as high as the richest 40%, leading to an increase in de facto inequality, a precedent in recent decades.

"Our concerns stem from rising extreme poverty, declining wealth-sharing due to inflation, currency depreciation, and interlocking crises," World Bank President David Malpass said in the statement.

Sub-Saharan Africa is home to 60% of the poorest people, approximately 390 million people. The poverty rate was 35%.

In order to eliminate extreme poverty in this region by 2030, the World Bank estimates that 9% annual growth will be necessary in each of its countries by the end of the decade, “a particularly high level for countries with average per capita GDP growth 1.2 percent during the decade preceding the epidemic,” according to estimates by the World Bank.

For his part, World Bank Chief Economist Endermit Gale declared, "In the next decade, investing in improving health care and education will be critical to developing economies In the context of record debt and limited financial resources, it will not be easy."

Reversing this trend, the Foundation has called on all governments to better provide aid to the poorest, encourage investment in education, research and development, and introduce taxes that better take into account income.
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