COVID-19 pandemic to push 150 million people into extreme poverty by 2021: World Bank

More than 150 million people may fall into extreme poverty throughout the world by 2021 as a result of the economic contraction caused by the novel coronavirus pandemic, the World Bank said in a report on Wednesday.

Washington [US], October 7 (ANI/Sputnik): More than 150 million people may fall into extreme poverty throughout the world by 2021 as a result of the economic contraction caused by the novel coronavirus pandemic, the World Bank said in a report on Wednesday.

"The Covid-19 pandemic is estimated to push an additional 88 million to 115 million people into extreme poverty this year, with the total rising to as many as 150 million by 2021, depending on the severity of the economic contraction," the report said.

The World Bank pointed out in the report that about 82 per cent of the so-called "new poor" will be in the middle-income countries that already have high poverty rates. (ANI/Sputnik)

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