Eradicating extreme poverty for all people everywhere by 2030 is a pivotal goal of the 2030 Agenda for Sustainable Development. Between 2015 and 2018, global poverty continued its historical decline, with the poverty rate falling from 10.1 per cent in 2015 to 8.6 per cent in 2018. Nowcasts suggest that owing to the COVID-19 pandemic, the global poverty rate increased sharply from 8.3 per cent in 2019 to 9.2 per cent in 2020, representing the first increase in extreme poverty since 1998 and the largest increase since 1990 and setting back poverty reduction by about three years.
The impact of the COVID-19 pandemic reversed the steady progress of poverty reduction over the past 25 years. This unprecedented reversal is being further exacerbated by rising inflation and the impacts of the war in Ukraine. It is estimated that these combined crises will lead to an additional 75 million–95 million people living in extreme poverty in 2022, compared with pre-pandemic projections.
- Between 2015 and 2018, global poverty continued its historical decline, with the global poverty rate falling from 10.1 per cent in 2015 to 8.6 per cent in 2018.
- Owing to the COVID-19 pandemic, the global poverty rate increased sharply from 8.3 per cent in 2019 to 9.2 per cent in 2020, rewinding progress by about three years.
- This unprecedented reversal is being further exacerbated by rising inflation and the impacts of the war in Ukraine. It is estimated that these combined crises will lead to an additional 75–95 million people living in extreme poverty in 2022, compared with pre-pandemic projections.
- The losses have been much higher for low-income countries, where poverty reduction has been set back by between eight and nine years. Although the poverty rate is projected to decrease to 8.7 per cent in 2021, it was still higher than the pre-pandemic level.
- For the first time in two decades, the world’s share of workers living with their families below the international poverty line increased from 6.7 per cent in 2019 to 7.2 per cent in 2020, meaning that an additional 8 million workers were pushed into poverty.
1.1 By 2030, eradicate extreme poverty for all people everywhere, currently measured as people living on less than $1.25 a day
1.2 By 2030, reduce at least by half the proportion of men, women and children of all ages living in poverty in all its dimensions according to national definitions
1.3 Implement nationally appropriate social protection systems and measures for all, including floors, and by 2030 achieve substantial coverage of the poor and the vulnerable
1.4 By 2030, ensure that all men and women, in particular the poor and the vulnerable, have equal rights to economic resources, as well as access to basic services, ownership and control over land and other forms of property, inheritance, natural resources, appropriate new technology and financial services, including microfinance
1.5 By 2030, build the resilience of the poor and those in vulnerable situations and reduce their exposure and vulnerability to climate-related extreme events and other economic, social and environmental shocks and disasters
1.A Ensure significant mobilization of resources from a variety of sources, including through enhanced development cooperation, in order to provide adequate and predictable means for developing countries, in particular least developed countries, to implement programmes and policies to end poverty in all its dimensions
1.B Create sound policy frameworks at the national, regional and international levels, based on pro-poor and gender-sensitive development strategies, to support accelerated investment in poverty eradication actions
COVID-19 response
Developing countries are most at risk during – and in the aftermath – of the pandemic, not only as a health crisis but as a devastating social and economic crisis over the months and years to come. According to UNDP income losses are expected to exceed $220 billion in developing countries, and an estimated 55 per cent of the global population have no access to social protection. These losses will reverberate across societies; impacting education, human rights and, in the most severe cases, basic food security and nutrition.
To support the poorest and most vulnerable, the UN has issued a Framework for the immediate socio-economic response to COVID-19, calling for an extraordinary scale-up of international support and political commitment to ensure that people everywhere have access to essential services and social protection.
The UN COVID-19 Response and Recovery Fund aims to specifically support low- and middle-income countries as well as vulnerable groups who are disproportionately bearing the socio-economic impacts of the pandemic. Women leaders convened by UN Deputy Secretary-General Amina Mohammed have called for support for the UN roadmap for social and economic recovery and for fully funding of the UN Response and Recovery Fund.
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