continuing to push people in Asia and the Pacific into extreme poverty, the Asian Development Bank said in a report Thursday.
This was 67.8 million greater than it would have been without the pandemic and the increased cost of living crisis, according to the report. Extreme poverty is defined as living on less than $2.15 a day, based on 2017 prices and adjusted for purchasing power and inflation. Poor people have been hurt the most by the increased cost-of-living crisis, as they are less able to pay higher prices for necessities such as food and fuel. Increases in the price of basic goods and services leave many poor people unable to save money, pay for health care, or invest in education and other opportunities that can improve their condition in the longer term.
ADB estimated in 2021 that the pandemic had pushed an additional 75 million to 80 million people into extreme poverty as of the previous year, compared with pre-pandemic projections. Extreme poverty was then defined as living on less than $1.90 a day based on 2011 prices.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Work-from-home only good during a pandemic: PSACEmployees should be encouraged to return to the office as remote work options cut down consumption and slow down the economy, a member of President Ferdinand “Bongbong” Marcos Jr.’s Private Sector Advisory Council (PSAC) said. In a televised public briefing, PSAC Lead for Jobs and Go Negosyo foun
Source: EdgeDavao - 🏆 23. / 51 Read more »
Partners in Progress: Meralco commits to support the government’s nation-building effortsIn the aftermath of the pandemic, economies around the world continue to track towards pandemic recovery and economic growth. For
Source: MlaStandard - 🏆 20. / 55 Read more »
Ombudsman finds cause to charge Lao, Pharmally execs in P4-B Covid kits dealTHE Office of the Ombudsman has found probable cause to file graft charges before the Sandiganbayan against former Department of Budget and Management (DBM) Undersecretary Lloyd Christopher A. Lao, two other former budget officials—one of them later becoming the overall deputy ombudsman—and several Pharmally Pharmaceutical Corporation for allegedly conspiring to…
Source: BusinessMirror - 🏆 19. / 59 Read more »
3 Principles to kickstart digital transformation; Converge CIO shares tipsConverge CIO Ulysses Naguit shares tips for success in creating a digital environment As the pandemic magnified the significance of
Source: MlaStandard - 🏆 20. / 55 Read more »
Bartenders Brendon Khoo and Melody Joy Lim on the art of mixing drinksAfter a long pause due to the pandemic, the Ultimate Bartender Championship competition is back and has crowned a new Filipino winner with Monkey Shoulder’s Regional Brand Ambassador for Southeast Asia
Source: manilabulletin - 🏆 25. / 51 Read more »
Equity investors stay cautious as global uncertainties prevailStock prices have yet to return to their pre-pandemic levels as investors remain cautious amid global uncertainties and central banks’
Source: MlaStandard - 🏆 20. / 55 Read more »