(MENAFN) Data released by the Italian National Institute of Statistics on Monday revealed a concerning trend: despite the country's economic recovery following the easing of Covid-19 restrictions, the number of people living in poverty surged in 2023 to its highest level in nearly a decade. The report painted a stark picture, indicating that the number of individuals experiencing "extreme poverty," defined as those unable to afford basic necessities, climbed to 5.75 million, representing 9.8 percent of the population.
This distressing poverty level marks a slight increase from the 9.7 percent recorded in 2022, signifying the highest point since data recording began in 2014. Italy, despite exhibiting a stronger economic rebound from the Covid-19-induced recession in 2020-2021 compared to its neighboring countries like Germany and France, witnessed a disheartening disconnect between overall economic growth and the well-being of its most vulnerable citizens.
While the Italian economy showed signs of recovery, boasting increased employment rates, the National Institute of Statistics report underscored that this progress failed to alleviate the plight of the impoverished segment of the population. Despite experiencing growth in employment opportunities, the benefits of the economic upturn did not reach those grappling with poverty.
The report further highlighted the lingering impact of the pandemic, noting that during the height of the crisis in 2020 and 2021, the proportion of individuals living in extreme poverty stood at 9.1 percent and 9.0 percent, respectively. Despite the adverse effects of the recession on families, government support measures partially mitigated the impact during this period. However, as the recovery progressed, these safety nets appeared insufficient to shield vulnerable populations from the persistent challenges of poverty.
In essence, the data underscores the urgency of addressing systemic issues contributing to poverty in Italy, despite the nation's broader economic strides. It emphasizes the importance of targeted interventions and policies aimed at supporting those most in need to ensure inclusive growth and prosperity for all segments of society.
MENAFN26032024000045015682ID1108021869
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.