Tuesday, 27 November 2012 22:03
ECLAC credits rise in earnings and public spending, extreme poverty persists.
The rate of poverty in Latin America made a slow descent in 2012, settling at the lowest it has been in three decades. Economic growth and public funding boosted 0.6 percent of the region’s population out from under the poverty line since the last reporting period, according to the United Nations Economic Commission for Latin America and the Caribbean (ECLAC).
Declining from 29.4 to 28.8 percent of the population in the last year, the new data indicates that 167 million people remain poor in Latin America today. The commission, which released its latest poverty report Tuesday, noted that the progress has sputtered this year.
Between 2010 and 2011, the rate of decline was 1.6 percent. Extreme poverty, virtually stagnant since the last ECLAC report, continues to burden 66 million people.
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