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World Bank Releases Poverty and Shared Prosperity Report for 2020, Themed 'Reversals of Fortune'

Adaugo Nwankpa
Adaugo Nwankpa

The Poverty and Shared Prosperity series provides the latest and most accurate estimates on trends in global poverty and shared prosperity. For more than two decades, extreme poverty was steadily declining.

The World Bank Group reports that for the first time in a generation, the quest to end poverty has suffered its worst setback.

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Poverty and Shared Prosperity 2020: Reversals of Fortune provides new data and analysis on the causes and consequences of this reversal and identifies policy principles countries can use to counter it. The report presents new estimates of COVID-19’s impacts on global poverty and inequality.

Harnessing fresh data from frontline surveys and economic  simulations,  it  shows  that  pandemic-related  job  losses  and  deprivation  worldwide  are  hitting  already-poor  and  vulnerable  people  hard,  while  also  partly  changing the profile of global poverty by creating millions of “new poor.”

Check Out Full Report.

Nigeria In Focus:

Population: 206.6 million (Compared to South Africa's 59.6 million)

GDP: $504.57 billion (Compared to South Africa's $369.85 billion)

GDP Per Capita: $2,465 (Compared to South Africa's $6,193)

Report

Adaugo Nwankpa

Statistical and Economics Analyst with a focus on social development.