According to the most recent estimates, in 2015, 10 percent of the world’s population or 734 million people lived on less than $1.90 a day. That’s down from nearly 36 percent or 1.9 billion people in 1990.

For the first time since 1998, poverty rates will go up as the global economy falls into recession and there is a sharp drop in GDP per capita. The ongoing crisis will erase almost all the progress made in the last five years. The World Bank estimates that 40 million to 60 million people will fall into extreme poverty (under $1.90/day) in 2020, compared to 2019, as a result of COVID–19, depending on assumptions on the magnitude of the economic shock. The global extreme poverty rate could rise by 0.3 to 0.7 percentage points, to around 9 percent in 2020.

Additionally, the percentage of people living on less than $3.20 a day could rise by 0.3 to 1.7 percentage points, to 23 percent or higher, an increase of some 40 million to 150 million people.

Finally, the percentage of people living on less than $5.50 a day could rise by 0.4 to 1.9 percentage points, to 42 percent or higher, an increase of around 70 million to 180 million people. It is important to note that these poverty projections are highly volatile and could differ greatly across countries.

https://www.worldbank.org/en/topic/poverty/overview

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