Washington, Mar 25: The global rate of extreme poverty has been revised slightly upward to 10.4 per cent in 2024, according to the latest update released by the World Bank.
The revised figures show that nearly 847 million people are living in extreme poverty worldwide, around 8 million more than previous estimates released last year.
The update is based on fresh and improved data, including new household surveys from multiple countries. Among these, new data from Pakistan has significantly influenced regional estimates, particularly for the Middle East, North Africa, Afghanistan and Pakistan (MENAAP) region.
In this region, the extreme poverty rate for 2024 has been revised up to 14.4 per cent from an earlier estimate of 11.8 per cent. This increase has added an estimated 21 million more people to the count of those living in extreme poverty, making it the only region where poverty levels have risen in recent years.
Globally, however, poverty is expected to decline gradually. Projections suggest the extreme poverty rate could fall to about 9.8 per cent by 2026, based on current economic growth forecasts.
Despite this expected improvement, disparities across regions remain significant. Most regions have managed to keep extreme poverty levels below 5 per cent, but challenges persist in Sub-Saharan Africa, where poverty rates remain high and recovery to pre-pandemic levels is likely to take longer.
The latest update also highlights improved data coverage across most regions, although some gaps remain in parts of Eastern and Southern Africa.
Experts say the findings reflect uneven progress in poverty reduction and underline the need for focused policy measures and international cooperation to ensure more inclusive global development.
