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World Bank: A quarter of developing countries are poorer than in 2019

2026-01-13 20:05:00, Ekonomi CNA

World Bank: A quarter of developing countries are poorer than in 2019

A quarter of countries in the developing world are poorer than they were in 2019 before the Covid pandemic, according to the latest findings published by the World Bank.

The Washington-based organization said a large group of low-income countries, many of them in sub-Saharan Africa, had suffered a negative shock in the six years to the end of last year.

The bank said the group included Botswana, Namibia, the Central African Republic, Chad and Mozambique. South Africa and Nigeria, which have fast-growing populations, also failed to increase average incomes during the period, despite growth of 1.2% and 4.4% respectively last year.

The bank said global growth had shifted downward since the pandemic, and the pace was now insufficient to reduce extreme poverty and create jobs where they are needed most.

Economic growth in emerging markets and developing economies was estimated to slow from 4.2% last year to 4% next year.

Global economic growth was proving more resilient than expected, the World Bank said, particularly after a better-than-expected performance by the US economy last year, but progress was likely to be modest in 2026 as economies in the developed and developing world struggled to make progress.

As many as one in four developing countries with lower average incomes than in 2019 have experienced wars and famines, the report said, which have delayed their recovery from the pandemic. Recent growth increases have been insufficient to overcome an earlier decline./CNA





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