Higher Level Of inequality and absolute poverty

Globally 20% of the people receive the 1.5% of the world’s income. The lowest 20% now roughly corresponds to the nearly 1 billion people living in extreme poverty on less than $1 per day at purchasing power parity. The enormous gap between the per capita income between rich and poor nations is not only manifestation of the huge global economic disparities.

Inequality is particularly high in many resource-rich developing countries notably in middle east countries. Development economist use the concept of Absolute Poverty to represent a specific minimum level of income needed to satisfy the basic physical need of food and clothing to ensure survival.

THE WORLD BANK ESTIMATES THAT THE SHARE OF POPULATION LIVING ON LESS THAN $1 PER DAY IS 9.1% IN EAST 8.6% IN LANTIN AMERICA 31.7 % IN SOUTH ASIA 1.5% IN MIDDLE EAST AND NORTH AMERICA

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