Extreme poverty has continued its decline
2030 target: 3 percent
Extreme poverty has fallen in many countries, and a lower proportion of people worldwide live in extreme poverty. According to the most recent estimates, in 2017, 9.2 percent of the world's population or 689 million people lived on less than a $1.90 a day, that is down from nearly 36 percent or 1.9 billion people in 1990. The COVID-19 pandemic is expected to have negative impact on poverty reduction progress and under the current baseline estimate the number of people living under $1.90 a day worldwide expected to reach 703 million in 2020 compared to the pre-COVID-19 estimate of 615 million, thus achieving the SDG target of 3 percent extreme poverty by 2030 even more elusive.
Remarkable improvements in human capital indicators have been observed -- under-5 mortality has been halved since 2000 and dropped to 42 per 1,000 live births in 2018 compared to 84 per live births in 2000. Prevalence of stunning among children under 5 years old was down to 24 percent in 2019 compared to 36 percent in 2000, while the ratio of girls to boys lower secondary completion rate is now at par at 101 percent compared to 90 percent in 2000. Access to water, sanitation and electricity has risen steadily for decades. For example, access to water was 88 percent of the population for World Bank Group client countries, in 2017, and 69 percent for sanitation compared to 78 percent and 47 percent in 2000, respectively. Yet, access to such services lag for FCS, where access to water was only 67 percent of the population, and 44 percent for sanitation in 2017.
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Emerging challenges from the COVID-19 pandemic and the expected downturn in global economy threaten the progress made over the years in reducing poverty, human capital advances while increasing the inequality gap particularly for people in FCS and the poorest population in many countries. School closures, food supply chain disruptions and stretched health systems due to COVID-19 pandemic could also exacerbate food insecurity, loss in schooling and learning, and health services provision to women and children, reversing the gains achieved in human capital development thus far.
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