Hello and welcome to the Current Affair's Portal of ExamPundit.in. World Bank on 4 October 2015 released global poverty projections for the year 2015. As per the projections, the number of people living in extreme poverty around the world is likely to fall to under 10 percent of the global population in 2015.
Consequently, the world is all set to achieve the Sustainable Development Goal 1- ending poverty in all its forms by 2030.
The projections were based on the updated poverty line of 1.90 US dollars per day on the 2011 Purchasing Power Parity (PPP) exchange rates basis. The earlier poverty line was 1.25 US dollars per day at 2005 PPP exchange rates.
Takeaways from the poverty projections
- Sustained reduction in poverty, began in 1990, is moving the world closer to the historic goal of ending poverty by 2030
- Global poverty will have fallen from 902 million people or 12.8 per cent of the global population in 2012 to 702 million people or 9.6 per cent of the global population in 2015.
- Reductions in poverty were due to strong growth rates in developing countries in recent years, investments in people’s education, health, and social safety nets that helped keep people from falling back into poverty.
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