World Bank announces reduction in world's 'extremely poor'

ZN.UA

Extreme poverty has long been defined as living on or below $1.25 a day, but the World Bank's adjustment now sets the poverty line at $1.90 a day, according to the report.

The World Bank predicts that 702 million people or 9.6% of the world's population will be living in extreme poverty in 2015, down from 902 million people or 12.8% of the global population in 2012.

The World Bank attributed the reduction in poverty to strong economic growth rates in developing countries, particularly India, and investments in education, health, and social safety nets.