Poverty rate in Kyrgyz Republic increased by 11 percentage points in 2020: World Bank

AKIPRESS.COM - The devastating ramifications of the coronavirus go beyond the health sector. The COVID-19 crisis has had adverse effects on labor income, the biggest factor in poverty reduction, according to the World Bank.
Combined with the fall in the purchasing power of a substantial share of the population due to inflation, this leaves many people highly exposed to the economic consequences of the pandemic.
The poverty rate in the Kyrgyz Republic in 2020 is estimated to have increased by 11 percentage points, from 20.1% in 2019 (national estimate), pushing an additional 700,000 people into poverty - a massive number for a population of 6.6 million.