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40% Of Zimbabweans Living In Extreme Poverty - World Bank

1 year ago
Fri, 01 Jul 2022 10:41:02 GMT
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40% Of Zimbabweans Living In Extreme Poverty - World Bank

The latest World Bank report indicates that 40 per cent of Zimbabweans are living on less than US$1.90 a day.

The report is based on the multilateral institution’s Poverty and Inequality Platform (PIP), an interactive computational tool that allows users to replicate internationally comparable regional and country-level poverty estimates. It reads in part:

Extreme poverty rate increased steadily between 2011 and 2020, only declining in 2021.

International poverty rate was 22% in 2011 and estimated to be 41% in 2021 and 40% in 2022.

Although poverty remains an overwhelmingly rural phenomenon, it has increased relatively faster in urban areas leading to the urbanisation of poverty.

Zimbabwe’s PPP was half the level in sub-Saharan African in 2011, but by 2019, it was on par with the rest of the continent (42%).

Inequality has also increased over the last decade, with the Gini coefficient increasing from 42 in 2011 to 50,3 in 2019 — among the highest in the world.

The Zimbabwe National Statistics Agency (ZIMSTAT) on Saturday revealed that the country’s annual inflation rose to 191.6 per cent in June from 131.7 per cent in May.

ZIMSTAT also revealed that the food poverty line (FPL) for one person in June was $13 875 and the total consumption poverty line stood at $18 425.

More: NewsDay

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