New research says nearly 80 percent of the world’s poor are actually in middle income countries. Two billion poor people – those who live on two dollars a day or less – live in middle income countries. That compares to 500 million in low income countries.
The study was led by Andy Sumner, research fellow at the Institute of Development Studies at the University of Sussex.
“Many countries over the last decade, in particular, have gotten much better off in average income. But poverty hasn’t fallen as much as one might expect or hope.
All of this speaks to a lot of the current debates about the rising importance of inequality around the world and whether debates around the U.N. poverty goals that are due for renewal of some kind in 2015 – whether issues about inequality – ought to have much higher focus,” he said.
One of the Millennium Development Goals calls for eradicating extreme poverty and hunger by 2015. The U.N. has said the global economic crisis of recent years has slowed progress. Since the crisis, it said, “more workers find themselves and their families living in extreme poverty.”
Thailand’s economic growth expected to return to 2019 levels in mid-2023
Although the economy would recover next year, the recovery is still substantially below potential level resulting in a large output loss and could affect Thailand’s potential economic growth in the future with the economy expected to return to 2019 levels in mid-2023.
The Siam Commercial Bank (SCB), one of Thailand’s largest commercial banks, said in its latest economic outlook report that the country’s economy may wait until the second semester of 2023 to return to 2019 growth levels.(more…)
World Bank cuts Thailand’s GDP growth outlook to 1% in 2021
The World Bank has said that Thailand’s economy is forecast to grow 1% this year, down from the 2.2% projected in July, hit by a spike in COVID-19 cases and a delayed reopening to visitors.
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