A new study has revealed that the number of people living in extreme poverty has decreased significantly in the past few decades. According to the study, conducted by the World Bank, the global poverty rate has dropped from 36% in 1990 to 10% in 2015.
The study, titled “The State of the Poor: A Global Snapshot,” analyzed data from 164 countries and found that the number of people living on less than $1.90 a day has decreased from 1.9 billion in 1990 to 736 million in 2015. This is a significant achievement, as it means that more than 1 billion people have been lifted out of extreme poverty.
The report also highlighted the progress made in reducing poverty in different regions of the world. East Asia and the Pacific have seen the most significant decline, with the poverty rate dropping from 61% in 1990 to 3% in 2015. South Asia and Sub-Saharan Africa have also made progress, with poverty rates decreasing from 51% to 13% and 56% to 35%, respectively.
The study attributes this progress to economic growth, improvements in education and health, and social safety nets. However, it also notes that there is still a long way to go, as millions of people are still living in extreme poverty. The COVID-19 pandemic has also posed a threat to the progress made, with an estimated 71 million people expected to be pushed into extreme poverty in 2020.
The World Bank has called for continued efforts to reduce poverty and ensure that the progress made is not reversed. It also emphasizes the need for targeted policies and investments to address the root causes of poverty, such as lack of access to education, healthcare, and job opportunities.
The study’s findings are a reminder that while progress has been made, there is still much work to be done to eradicate extreme poverty. It is a global issue that requires a collective effort from governments, organizations, and individuals to ensure that everyone has the opportunity to live a life free from poverty.
