News from Al-Madinah: A new report issued by the World Bank stated that Corona has led to a high global poverty rate, and that India has endured the largest burden of the huge numbers of people who fell in the clutches of poverty because of it.
According to the World Bank’s most recent report, “Poverty and Common Floration 2022: Correction of the Path,” eight out of every ten people (or 79 percent) in India were pushed into extreme poverty in 2020, confirming the enormous burden of the epidemic on the nation. The report estimates that 71 million people worldwide have been forced into extreme poverty as a result of the epidemic.
The Kofid-19 outbreak “not only delayed growth, but also reflected the progress made by many nations in recent decades to eliminate poverty, as it led to the heart of the lives of many people,” the research stated, adding that India saw a “clear economic shrinkage” in the same year. Additionally, it caused industry to almost completely cease operations and the collapse of global economic activity.
“The epidemic hit low- and middle-income nations, he said, and contributed to a high global poverty rate that increased from 8.4% in 2019 to 9.3% in 2020.
“The Independent” is the source.
World Bank: The Corona outbreak increased the rate of poverty worldwide
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