Madagascar ‘must reduce poverty with economic growth’

2 Aug 18

Madagascar must ensure its economic growth also reduces poverty in the country, the World Bank has warned.

The country’s economy growth for 2017 is estimated at 4.2% and projected at 5.0% in 2018, according to the bank’s latest economic update for the country, released yesterday.

But the poor in the country were hit by harsh weather conditions, which affected the agriculture sector and the production of domestically produced rice fell and prices increased.

Coralie Gevers, World Bank country manager for Madagascar, said: “While the economy is projected to continue expanding over the medium-term, focusing on inclusive growth is essential or poverty reduction.”

The projected growth of the economy is likely to result in less people living under the poverty line, the bank said.

The poverty headcount, based on $1.50 a day line, is projected to lower from 75% in 2018 to 73% in 2020, if the growth is inclusive.

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