World Bank report: Poverty rate in Maldives is 1%
Although the report says that the proportion of poor people in Maldives is low, the cost of living in Maldives is relatively high.
By
Aishath Fareeha Abdulla
The poverty rate in Maldives is about 1% of the population, according to a World Bank report.
The agency's South Asian Regional Development and Social Security Report notes that less than 1% of the total population in Maldives earns less than USD 3.65 (MVR 56) per day, the World Bank's standard for poverty in developing countries.
The report said the number of people living in poverty in South Asia has halved due to economic growth in the region over the past 20 years.
The report notes that in recent years, the living conditions of 120 million people in India have improved and they have fallen below the poverty line.
The criteria for poverty by international agencies are:
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In developing countries, if the daily income is less than USD 3
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In less developed countries, if the daily income is less than USD 2.15
Although the report says that the proportion of poor people in Maldives is low, the cost of living in Maldives is relatively high. According to the 2019 statistics, 93% of the poor population lives in the Gaafu Dhaalu atoll.
