0 Comment(s)
Print
E-mail Xinhua, February 23, 2024
ANTANANARIVO, Feb. 23 (Xinhua) -- The Madagascar Poverty Assessment, released Thursday by the World Bank, reveals that 75.2 percent of the population in Madagascar lived below the national poverty line in 2022, compared to 72.9 percent in 2012.
According to the report, the rural poverty rate remains high at 79.9 percent in 2022, while urban poverty has increased from 42.2 percent in 2012 to 55.5 percent in 2022, particularly in secondary cities.
The report said that poverty levels vary across Madagascar, with Androy in the south having the highest poverty headcount rate. Meanwhile, the northern regions have lower poverty levels due to increased economic activity, such as tourism and vanilla production. In contrast, the eastern side of the country has become an area of high poverty due to frequent cyclones, which leave trails of destruction and cause loss of assets among households.
The increase in poverty is mostly attributed to the COVID-19 pandemic, high staple food prices, natural disasters, and a growing urban population with few opportunities for decent employment, especially in secondary cities, the report said.
Persistent factors that sustain and exacerbate poverty in Madagascar include low agricultural productivity and lack of basic services in rural areas, weak human capital, high fertility rates, high vulnerability to shocks, including climate disasters, political instability and global crises, and lack of economic opportunities, the report added.
Atou Seck, World Bank country manager for Madagascar, said that addressing poverty in Madagascar requires bold pro-growth reforms, which should improve the business climate, promote competition, build human capital, invest in connectivity, access to energy, and digital infrastructure, and boost agricultural productivity.
"By implementing such measures, Madagascar can create an enabling environment that promotes private sector growth, employment creation, and poverty reduction, ultimately benefiting the entire population," he added. Enditem
Go to Forum >>0 Comment(s)