A report from the World Bank estimates that the percentage of people living in extreme poverty around the globe will fall below 10 percent by the end of 2015.
The report, Ending Extreme Poverty and Sharing Prosperity: Progress and Policies, projects that the number of people living below an updated international poverty line of $1.90 a day will have fallen from 902 million, or 12.8 percent of the global population, in 2012 to 702 million, or 9.6 percent, this year.
Despite solid development gains, progress has been uneven and significant work remains. With an estimated 900 million people in 2012 on less than $1.90 a day—the updated international poverty line—and a projected 700 million in 2015, extreme poverty still remains unacceptably high. It has also become more concentrated in Sub-Saharan Africa and South Asia. Addressing moderate poverty and mitigating the vulnerability of falling back into poverty have become more pressing issues in many countries, especially in those where the bottom 40 percent saw their incomes decline. Even in a world of single-digit extreme poverty, non-income disparities, like limited access to quality education and health services, pose a bottleneck to poverty reduction and shared prosperity. Wider environmental sustainability concerns are a major challenge in much of the world, both in terms of climate change and the impact on the natural resources upon which many of the poorest depend, such as water. In sum, while development progress was impressive, it has been uneven and a large unfinished agenda remains.