Africa Will Have Most Poor People By 2030 – World Bank. The - TopicsExpress

Africa Will Have Most Poor People By 2030 – World Bank. The World Bank’s new Africa’s Pulse, a twice-yearly analysis of the issues shaping Africa’s economic prospects has suggested that most of the world’s poor people by 2030 will live in Africa. World Bank President, Jim Yong Kim, had last April called for a commitment by the international community to end extreme poverty by 2030 and to improve the lives of the most vulnerable people living in developing countries. This is just as the Africa’s Pulse states that Economic growth in Sub-Saharan Africa (SSA) remains strong with growth forecasted to be 4.9 per cent in 2013. Almost a third of countries in the region are growing at 6 per cent and more, and African countries are now routinely among the fastest-growing countries in the world. However, buoyed by rising private investment in the region and remittances now worth $33 billion a year supporting household incomes GDP growth in Africa will continue to rise and pick up to 5.3 per cent in 2014 and 5.5 per cent in 2015. Strong government investments and higher production in the mineral resources, agriculture and service sectors are supporting the bulk of the economic growth. As Africa’s growth rates continue to surge with the region increasingly a magnet for investment and tourism, Africa’s Pulse notes that poverty and inequality remain “unacceptably high and the pace of reduction unacceptably slow.” Almost one out of every two Africans lives in extreme poverty today. Optimistically, that rate will fall to between 16 per cent and 30 per cent by 2030. According to the report, “Sustaining Africa’s strong growth over the longer term while significantly reducing poverty and strengthening people’s resilience to adversity may prove difficult because of the many internal and external uncertainties African countries face,“ says the World Bank Group’s Vice President for Africa, Makhtar Diop. “Within Africa, natural disasters such as droughts and floods are occurring more frequently while the threat of conflict continues, with recent events in the Central African Republic and Mali reinforcing the need for peace, security, and development to take place at the same time.

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