Thu. Mar 23rd, 2023

Africa accounts for more than half of world’s poor – Economist

The Chief Economist at the Economic Commission for Africa, ECA, Mrs. Hanan Morsy, says Africa currently accounts for more than half of the world’s poor people at five point eight percent.

Mrs. Morsy made this known at the fifty fifth session of the conference of African Ministers of Finance, Planning and Economic Development in Addis Ababa, Ethiopia yesterday.

She said that the continent faced a tsunami of global shocks that have stretched the existing socio economic operation and equity.

Mrs. Morsy further explained that there is a sudden change of distribution across the continent in terms of concentration of these issues, with East and West Africa, particularly having a higher share of poverty across regions.

She called on African governments to enhance resource mobilization, pursue inclusive macro economic policies and build resilience to future shocks at the household and community levels to curb the situation.

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