Published December 13,2024
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The World Bank mentioned that solely six out of 26 international locations labeled as low-income are projected to achieve middle-income standing by 2050 if there isn’t a sustained enchancment of their development charges.
The findings are available a piece revealed by the World Bank of the Global Economic Prospects Report, which shall be launched in January 2025, protecting the efficiency of 26 low-income economies.
In an announcement, the financial institution mentioned the following 25 years may very well be decisive when it comes to whether or not the world’s 26 poorest international locations will transfer to middle-income standing.
Pointing out that these international locations are amongst these the place greater than 40% of the inhabitants struggles to outlive on lower than $2.15 a day, the assertion emphasised that the international locations represent the point of interest of worldwide efforts to finish excessive poverty.
But progress in these international locations has been stalled by escalating conflicts, frequent financial crises and persistently weak development, the assertion mentioned.
Noting that progress within the final 25 years has largely bypassed these international locations, the assertion famous that the World Bank labeled 63 international locations as “low-income” in the beginning of the twenty first century.
The assertion mentioned that 39 international locations together with India, Indonesia and Bangladesh joined the ranks of “middle-income” international locations, whereas Syria and South Sudan joined the ranks of “low-income” international locations within the 2010s, including that these international locations have stagnated, with their GDP per capita rising at lower than 0.1% yearly over the previous 15 years.
Source: www.anews.com.tr