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AfDB Prophesizes a Large Increase in Number of Extremely Poor People in Africa Come 2021
Category :- Economy and Finance Author :- L J KINGAH 
Posted on July 8, 2020, 1:09 pm
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According to an estimate made by the African Development Bank-AfDB, the number of extremely poor people in Africa will by 2021 increases by 49.2million due to effects from the Covid-19 pandemic.

kenyan slums

It was Yesterday, Tuesday July 7th, 2020 in it African Economic Outlook amid the coronavirus pandemic that the bank made this revelation. The increase in this number according to the bank is because the Gross Domestic Product has continued to drop below the population growth rates.

AfDB

Two most populated African countries that will largely record this increase are Nigeria and the Democratic Republic of Congo. In the baseline scenario in 2020, the increase could be between 8.5 and 2.7 million and in worst case scenario, 11.5 and 3.4 million, the bank explained. An estimated 25 to 30 million of jobs could be lost as they battle amid the health crisis, it added.

AFRICAN ECONOMIC OUTLOOK

AfDB stated that, “Although the number of people in extreme poverty in Africa was projected to reach 425.2 million in 2020 under the no-outbreak scenario, Covid-19 could increase it further to 453.4 million in the baseline.”

POVERTY

The effects will greatly fall on the working poor who account for half of the employed in the continent. The nature of surviving jobs will equally be affected by the crisis, according to them.

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Tagged Keywords: prophesy, extreme poverty, covid 19, afdb
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