The milestone was based on a World Bank economic analysis of global poverty trends toward reaching a goal of ending extreme poverty by 2030. Living in extreme poverty is defined as below $1.25 a day.
World Bank Group economists found if developing countries continued their strong growth rates in the coming seven years – far from a given -- the global rate would dip below 10 percent for the first time since such figures were first reported in the World Development Report in 1990. Since 1990, when 43 percent of the people living in developing countries lived in poverty, global poverty has been in a steady retreat. An estimated 1.9 billion people lived in poverty in 1990, and that number fell to 1.2 billion in 2010.
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