Global extreme poverty falls
worldwide continues to fall despite the bad state of the global economy, according to a World Bank study. However, the report warns that given the projected growth trends, reducing high inequality may be necessary if extreme poverty is to be reduced by 2030. In 60 of the 83 countries it covered, average incomes went up for 40 per cent people at the bottom of the economic pyramid between 2008 and 2013, despite financial crisis. Nearly 800 million people lived on less than US $ 1.90 a day in 2013, and the number of extremely poor had reduced by 100 million since 2012. Progress on extreme poverty was driven mainly by East Asia and the Pacific, especially China, Indonesia and India. Half of the world's extreme poor now live in Sub-Saharan Africa and a third live in South Asia. The study is titled kPoverty and Shared Prosperity 2016: Taking on inequalityy.