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Date: 06 Aug, 2020

Stat:483 Members 984 Posts

43% of world’s poor people live in Nigeria, two others – World Bank

checkmate01

By checkmate01

June 10th, 2020

 
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Global economic growth could rebound next year but the number of people living in extreme poverty is expected to remain unchanged after a huge surge this year due to the coronavirus pandemic, the World Bank warned Tuesday.

 

The bank said three countries (India – 24%, Nigeria – 12%, DR Congo – 7%) with the highest shares of the world’s extremely poor are not projected to grow faster than their population, meaning that extreme poverty will remain at the elevated 2020 levels through 2021.

 

The projection came after the Washington-based development lender said Monday the pandemic could drive between 70 and 100 million people into extreme poverty in 2020 as the global economy faces its worst recession in 80 years.

Source: World bank

Before the pandemic, extreme poverty – defined as living on $1.90 per day – had been decreasing.

The bank expects growth to rebound by four percent in 2021.

“Nigeria, India and the Democratic Republic of Congo — three countries which we project are home to more than a third of the world’s poor – are predicted to have per-capita growth rates in real GDP of –0.8 percent, 2.1 percent and 0.3 percent, respectively.

“With population growth rates of 2.6 percent, 1.0 percent and 3.1 percent, this is hardly enough for sustainable decreases in the poverty headcount,” the World Bank said in a blog.

 

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Comments (7)

Oyetunji1010 avatar

Oyetunji1010

2 months ago

Yea.... that's true

ManOfGrace01 avatar

ManOfGrace01

2 months ago

That could be true

MD avatar

MD

2 months ago

Beeni ooo e o paro.. Useless government

Nikky2107 avatar

Nikky2107

2 months ago

God will have mercy on us and ease our burden

Godface12 avatar

Godface12

2 months ago

So bad

Samson10 avatar

Samson10

2 months ago

Wow we good to go

mohammed15 avatar

mohammed15

4 weeks ago

confirm ooo