Africa accounts for 55% of the world's poor - ECA

According to Hanan Morsy, Chief Economist at the Economic Commission for Africa, Africa now accounts for more than half of the world's poor (54.8%). Morsy made the remarks on Monday at the 55th session of the Conference of African Ministers of Finance, Planning, and Economic Development in Addis Ababa, Ethiopia, according to the News Agency of Nigeria. "The continent faced a tsunami of global shocks that exacerbated existing socioeconomic operation and equity," she said. As a result of these shocks, Africa now accounts for more than half of the world's poor (54.8%). In addition, we estimate that 548 million Africans will be poor in 2022, with another 149 million at risk of falling into poverty in the same year. "There is a skewed distribution of these issues across the continent in terms of concentration, with East and West Africa having a higher share of poverty across regions," she said. "African governments must improve resource mobilization. To accomplish this. I believe that several measures, including closing tax loopholes, would be beneficial."