(MENAFN) World Bank statistics have revealed a notable decline in Iran’s poverty headcount ratio by 37 percent over the period of 2020-2022, as reported by an Iranian news agency. The data indicates that the ratio of the population living in absolute poverty compared to the total population decreased from 0.8 percent in 2020 to 0.5 percent in 2022.
The World Bank defines poverty based on a daily income of USD2.15 per person, adjusted for purchasing power parity. This amount represents the minimum necessary for individuals to meet their basic needs. Iran’s poverty headcount rate of 0.5 percent in 2022 marks the lowest recorded rate in the past five years, following an upward trend until 2020.
In a separate report released earlier this month, the World Bank highlighted Iran’s success in reducing food inflation by 48 percent within a year. Food inflation in Iran stood at approximately 79.5 percent in March 2023 but decreased significantly to 31.2 percent in February 2024. Iran was recognized among the countries that effectively managed to mitigate food inflation.
However, the report also noted that Argentina had the highest food inflation rate globally, reaching 303 percent in February 2024. Additionally, several West Asian and North African countries, including Lebanon, Turkey, Egypt, and Palestine, were among the top 10 countries with the highest food inflation rates.
Lebanon and Zimbabwe have secured the second and third spots, respectively, in terms of food inflation rates, with Lebanon registering a substantial 103 percent inflation rate and Zimbabwe following closely with 84 percent inflation. Turkey clinched the fourth position with a food inflation rate of 71 percent, while Venezuela secured the fifth spot with 61 percent inflation.
Meanwhile, Egypt recorded a food inflation rate of 51 percent, placing it sixth on the list, followed by Sierra Leone and Myanmar, both with a rate of 50 percent. Palestine and Nigeria rounded off the top ten, with food inflation rates of 42 percent and 38 percent, respectively.
“According to the Food and Agriculture Organization of the United Nations (FAO), there is an urgent need for foreign food aid in 45 countries around the world: 33 countries in Africa, nine countries in Asia, two countries in Latin America and the Caribbean, and one country in Europe,” the report noted.
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