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Economy

Economic Growth and Human Development in Developing Economy

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Economic Growth and Human Development in Developing Economy

Eradicating poverty has remained a major challenge in the world. According to UNDP (2016), more than 700 million people in the world live in extreme poverty (less than US$ 1.90 PPP per day). Additionally, 800 million more people are close to the poverty line who could be easily lurched below the threshold due to factors such as economic, social, and environmental shocks.  The UNDP Sustainable Development Goal 1 seeks to eradicate all sorts of poverty.  However, the condition is still deficient. Poverty is multidimensional as it extends to the overlapping inequalities that face poor people including poor sanitation, inadequate schools, malnutrition, and lack of electricity among others.  It is intriguing to learn that approximately 1.6billion people in 108 nations are marked as multidimensionally poor.  Another important indicator is that approximately half of the world’s population dwells at the bottom of the global economic pyramid (less than US $8 in a day).  Several aspects continue to perpetuate poverty and entrench inequalities and are of concern to each economist. Some of them include social exclusion, recurrent disasters and economic recessions, rising unemployment, escalating development challenges in the developing countries, and unstable natural resources management.

UNDP supports developing countries to reduce poverty by offering various services. Some of them include formulating development planning strategies, helping countries in strengthening resilience, developing financial solutions, and strengthening institutional capacity among others.  Additionally, the organization has been in action in numerous countries cutting across different developmental disciplines as follows; integrated development planning in Cambodia, Lebanon, Rwanda, Uruguay and Bangladeshi among other 80 counties; social protection in India, Brazil, and Myanmar among other 70 counties; jobs and livelihoods in Bangladeshi, Syria, Afghanistan, Colombia, Yemen, and Kenya among other 72 countries; access to basic services in Kenya among other 59 countries; financing for development in Nepal, Tanzania, Mali, Malawi, Bhutan and Rwanda among other 145 countries and disaster risk reduction in Kenya, Yugoslav, Sri Lanka, Vietnam and Nepal among other 23 countries.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reference

UNDP (2016). UNDP SUPPORT TO THE IMPLEMENTATION OF SUSTAINABLE DEVELOPMENT GOAL 1.

 

 

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