Middle East and North Africa: Even though the region saw an increase in the number of people living on less than $1.90 a day, levels of extreme poverty remained low. Latin America and the Caribbean: The region saw less shared prosperity from 2010 to 2015 than in previous years as its economies were impacted by a slowdown in global commodity prices. The region had almost 11 percent living on less than $3.20 a day and over 26 percent on less than $5.50 a day in 2015. Poverty in non-monetary dimensions such as lack of access to drinking water, adequate sanitation or electricity was much less associated with monetary aspects. However, in the share of people lacking schooling enrollment, it performs less well than either East Asia and Pacific or Latin America and the Caribbean. Among developing regions, Europe and Central Asia had the lowest percentage of people living under the $3.20 and $5.50 poverty lines. UTC/GMT).Įast Asia and Pacific: The region was one of the best performers in shared prosperity: The incomes of the poorest 40 percent of the population grew on average 4.7 percent between 20. East Asia not only had the largest reductions in extreme poverty, but also in the proportion of people living on less than $3.20 and $5.50 per day. While extreme poverty is very low, the region saw a higher percentage of people lacking access to sanitation.Įurope and Central Asia: Many countries in the region suffered setbacks in the growth of incomes of its bottom 40. On the other hand, several economies whose bottom 40 suffered large declines because of the financial and the debt crises were recovering. “Piecing Together the Poverty Puzzle” is being released on End Poverty Day and will be accompanied by a launch event to be webcast on World Bank Live at 12:30 p.m. EDT (4:30 p.m. The new measures allow the World Bank to better monitor poverty in all countries, in multiple aspects of life, and for all individuals in every household. Only one in four low-income countries and four of the 35 recognized fragile and conflict-affected states have data on shared prosperity data over time. The report finds that the incomes of the poorest 40 percent grew in 70 of the 91 economies monitored. In more than half of the economies, their incomes grew faster than the average, meaning they were getting a bigger share of the economic pie. However, progress in sharing prosperity lagged in some regions of the world. The report also warns that data needed to assess shared prosperity is weakest in the very countries that most need it to improve.

The report also goes beyond monetary measures of poverty to understand how access to adequate water and sanitation, education, or electricity affect a family’s well-being. And since the burdens of poverty often fall most heavily on women and children, the report analyzes how poverty can vary within a household. Close to 46 percent of the world’s population was living on less than $5.50 a day. While rates of extreme poverty have declined substantially, falling from 36 percent in 1990, the report’s expanded examination of the nature of poverty demonstrates the magnitude of the challenge in eradicating it. Over 1.9 billion people, or 26.2 percent of the world’s population, were living on less than $3.20 per day in 2015. “At the same time, we can take a broader view of poverty at different levels and dimensions around the world. This view reveals that poverty is more widespread and entrenched, underlining the importance of investing in people.” “Ending extreme poverty by 2030 and boosting shared prosperity are our goals, and we remain committed to them,” said World Bank Group President Jim Yong Kim. However, given that economic growth means that a much greater proportion of the world’s poor now live in wealthier countries, additional poverty lines and a broader understanding of poverty are crucial to fully fighting it, the report says. The share of the world’s population living in extreme poverty fell to 10 percent in 2015, but the pace of extreme poverty reduction has slowed, the Bank warned on Sept.

The World Bank remains committed to achieving the goal of ending extreme poverty, defined as living on less than $1.90 a day, by 2030. Living on less than $3.20 per day reflects poverty lines in lower-middle-income countries, while $5.50 a day reflects standards in upper-middle-income countries, the World Bank said in its biennial Poverty and Shared Prosperity Report, “Piecing Together the Poverty Puzzle.” 17, 2018 - Economic advances around the world mean that while fewer people live in extreme poverty, almost half the world’s population - 3.4 billion people - still struggles to meet basic needs, the World Bank said.

Despite decline in extreme poverty, broader measures show billions still struggle to meet basic needs

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