Fall in income per capita expands gap between countries

Since 2014, with the exception of China and India, per capita income in developing economies has been lower a higher percentage point than the average of rich economies, which has expanded the gap between rich and poor, highlights an inmate analysis Gill and Ayhan Kose, World Bank economists.

Most of the developing economies, which began the century in a trajectory aimed at reducing the income gap compared to the richest economies, are being more lagginghighlight.

The growth forecasts of long -term developing economies are the weakest since the beginning of the century, which makes it difficult to eradicate extreme poverty.

This means that approximately 69 million people will leave extreme poverty between 2024 and 2030, 54 percent less than the 150 million that did between 2013 and 2019.

According to current projections, 622 million people, 7.3 percent of the world’s population, will live in extreme poverty in 2030.

It is expected that another 3,400 million people, almost 40 percent of the world’s population, will live with less than $ 6.85 per day.

The analysts explained that most of the forces that promoted growth in developing economies have been dissipated.

In their place, strong winds have appeared: weak investment and productivity growth, aging of the population in almost all countries except the poorest, increased commercial and geopolitical tensions, and the growing danger of climate changehighlight.

However, developing economies acquired greater importance than at the beginning of the century for the planet, since they currently represent almost half of the global gross domestic product, while in 2000 the proportion was only 25 percent.

The majority of this progress occurred in the first years before the global financial crisis of 2008-2009, but since then it has decreased.