According to the World Bank, 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 projection came after the Washington-based development lender said the pandemic could drive between 70 and 100 million people into extreme poverty in 2020. Before the pandemic, extreme poverty–defined as living on $1.90 per day–had been decreasing.
PUBLISHED ONSep 2020
The bank expects growth to rebound by 4% in 2021. But the countries 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. “Nigeria, India and the Democratic Republic of Congo are predicted to have per-capita growth rates in real GDP of –0.8%, 2.1% and 0.3% respectively,” the World Bank said in a blog.