World Bank: porverty reduced in eastern Europe, ex-Soviet countries
13/10/2005 14:54
The World Bank said Wednesday that rapid economic growth and narrowing
inequality helped 40 million people in eastern Europe and the countries of the
former Soviet Union walk out of poverty during the 1998-2003 period.
In a new
report, the bank said that there were 61 million people living in poverty in the
above areas, or 12 percent of the total population, in 2003, a sharp decline
from 101 million in 1998, or 20 percent.
An absolute poverty line of less
than US$2 a day is used in the report.
According to the report, another 150
million people in the regions, who live with less than four dollars a day, are
considered economically vulnerable.
Thanks largely to surging oil and gas
revenues, Russia's economy grew by 7.3 percent in 2004 and is projected to do as
well this year, and has become an engine for the economic growth of its
neighbors.
The report said that if the high-level economic growth of the
regions continues, the figure of people in poverty will decline
further.
Xinhua
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