Significant Reduction In Extreme Poverty In Brazil During 2023

(MENAFN- The Rio Times) In 2023, Brazil saw a notable 40% drop in its extreme poverty rate from the previous year.

This significant shift was especially notable among black women, who experienced a 45.2% decrease, as reported by the Brazilian Observatory of Inequalities.

Drawing on data from the Continuous National Household Sample Survey by the Brazilian Institute of Geography and Statistics (IBGE , the report highlighted the Northeast region.

Here, extreme poverty rates fell from 4.7% in 2022 to just 2.7% in 2023. In 2023, the extreme poverty threshold was set at a monthly per capita income of no more than 109 reais (about $20), slightly up from 105 reais (around $19) in 2022.

This adjustment reflects a modest increase from the previous year's benchmark. Despite the progress in reducing poverty, income inequality remains deeply entrenched.



The richest 1% of Brazilians earn a monthly per capita income that exceeds that of the poorest 50% by more than 31 times.

However, there was a significant 20% reduction in unemployment rates, along with an 8.3% real increase in average income from all sources during the same period.

Women particularly benefited from these economic improvements , with a real income growth of 9.6%, surpassing men's growth of 7.7%.

However, Brazil continues to grapple with a substantial gender pay gap, where women earn 27% less than men.

Additionally, the income disparity based on race is stark, with black Brazilians earning 41% less than their non-black counterparts, and black women earning 57% less than non-black men.

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