For the first time in two decades, the world’s share of workers living with their families below the international poverty line increased from 6.7 per cent in 2019 to 7.2 per cent in 2020, meaning that an additional 8 million workers were pushed into poverty.Although the poverty rate is projected to decrease to 8.7 per cent in 2021, it was still higher than the pre-pandemic level. The losses have been much higher for low-income countries, where poverty reduction has been set back by between eight and nine years.It is estimated that these combined crises will lead to an additional 75–95 million people living in extreme poverty in 2022, compared with pre-pandemic projections. This unprecedented reversal is being further exacerbated by rising inflation and the impacts of the war in Ukraine.Owing to the COVID-19 pandemic, the global poverty rate increased sharply from 8.3 per cent in 2019 to 9.2 per cent in 2020, rewinding progress by about three years.Between 20, global poverty continued its historical decline, with the global poverty rate falling from 10.1 per cent in 2015 to 8.6 per cent in 2018.
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