In 2021, after the global recession of 2020, economies began to recover and extreme poverty levels were lower than before the pandemic in more prosperous regions by 2022. However, globally, poverty levels were slightly higher in 2022 compared to pre-pandemic levels, although they were on a downward trend. Estimates showed that there were 23 million more people living in extreme poverty in 2022 compared to 2019.
The uneven and slower economic recovery from the pandemic was evident in Sub-Saharan Africa, where over half of the extreme poor reside. Another global shock in 2022 was Russia’s invasion of Ukraine, which contributed to rising inflation in countries of all income levels. Despite this, at the $3.65 and $6.85 poverty lines, the global poverty rate in 2024 was lower than in 1981 or any other year since then.
In March 2014, the World Bank released an update on global poverty estimates incorporating updated data on consumer price index, national accounts, and population. This update revised global and regional poverty estimates from 1981 to 1985 or any other year since then. The methodology for aligning regional and global poverty estimates was also updated, resulting in minor changes. The data showed that global and regional poverty trends at the three global absolute poverty lines of the World Bank between September
