Poverty Rating: Africa Accounts For 55% Of World Poorest People– ECA

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The Chief Economist at the Economic Commission for Africa, Hanan Morsy, says Africa currently accounts for more than half of the World’s poor at 54. 8 per cent.
Morsy mentions at the 55th session of the Conference of African Ministers of Finance, Planning, and Economic Development in Addis Ababa, Ethiopia, on Monday, according to a News Agency of Nigeria report.
She says The continent faces a tsunami of global shocks that have exacerbated existing socio-economic operation and equity. Africa, as a result of these shocks, currently accounts for more than half of the world’s poor at 54.8 per cent. And have estimated 548 million Africans living in poverty in 2022 and 149 million at risk of falling into poverty in the same year.
Morsy said the situation was further exacerbated by existing inequalities, noting that even in times of high economic growth in Africa, the rate of inequality still rose.
She explained that several recommendations, both domestic and international, had been put in place to help tackle this.