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Poverty in Ecuador falls to 25%, seven points less than a year ago

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economic poverty in Ecuador stood at 25% in June, which meant a reduction of more than seven points in the last twelve months and two in the last semester, while extreme poverty was set at 10.7%, four points less than a year ago .

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This is what the National Institute of Statistics and Census (INEC) marks in its latest survey, published on Friday, in which it is verified that poverty has returned to the levels prior to the COVID-19 pandemic, after half of 2020 reached 33% and that in June 2021 it barely dropped to 32.2%.

These data imply that currently one in four Ecuadorians lives below the poverty line, with a monthly income of less than US$ 87.57, a rate still above the levels of the end of 2017, when the lowest peak of poverty was recorded. poverty in Ecuador, with 21.7%.

Meanwhile, despite its notable decrease, from 14.7% to 10.7% in the last twelve months, extreme poverty has not yet reached pre-pandemic levels (8.9% in December 2019) and even rose two tenths compared to the value of December 2021 (10.5%).

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Thus, at present, at least one in ten Peruvians subsists on less than US$49.35 a month, which places them on the threshold of extreme poverty, in a country where the basic salary is US$425 and the cost of the basic family food basket is estimated by the INEC at US$751.04 per month.

According to the latest INEC poverty survey, in urban areas poverty reached 16.7% and extreme poverty 5.2%, while in rural areas poverty stood at 42.9% and extreme poverty at 22.7%.

For its part, the Gini coefficient, which marks the level of economic equality in a society, stood at 0.453 in June 2021, in a range where 0 is absolute equality and 1 absolute inequality.

For Ecuador, this is the lowest Gini index since records have been recorded, with a marked decrease in the last year, since twelve months ago this indicator was at 0.493.

Source: Gestion

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