Vietnam makes strides in poverty reduction: World Bank
(VOVWORLD) - Vietnam has made remarkable progress in poverty reduction in the 2010-2020 period, with the rate of poverty declining to only 5% from 16.8%, according to the World Bank (WB).
The WB said over 10 million people were supported to escape from poverty in the period.
The sudden outbreak of the COVID-19 pandemic at the end of the decade has stalled progress on wage increase and improvement in job quality, and delayed the poverty reduction progress and effort.
The WB will release a report on poverty and equality in Vietnam in 2022 on Thursday.
According to the WB’s Macro Poverty Outlook for Vietnam in 2022 released last Friday, the poverty rate in Vietnam is expected to decline in 2022, but at a slower pace than pre-COVID-19.