Comoros: Inequalities Persist Despite Declining Poverty Levels

Stocks and Financial Services Press Releases Friday June 15, 2018 09:10
MORONI--15 Jun--World Bank

MORONI, June 14, 2018 – Living conditions in Comorian households have improved and poverty levels have fallen by over 10% since 2004 in rural and urban areas alike, shows the World Bank's poverty assessment released today.

Multidimensional poverty also declined significantly in tandem with improved living conditions. The report, however, underscores the uncertainty surrounding the ability to sustain this progress, owing to wide inequalities, especially between rural and urban households. The persistent lack of access to services and property ownership is of particular note.

"The main challenge to be tackled in this regard is sustaining the progress made in recent years, in line with the priority action plan stemming from the Accelerated Growth and Sustainable Development Strategy. The Comoros is grappling with myriad macroeconomic and fiscal challenges that may exacerbate fiscal pressures and jeopardize the Government's ability to provide social services," said Nadia Belhaj Hassine Belghith, Senior Economist and co-author of the report"Limited fiscal resources, the unpredictability of non-tax revenues, and significant public expenditure create considerable fiscal pressures."

Drawing on the analysis of the two latest series of household surveys, this report shows that the percentage of the population experiencing hardship as measured in approximately one third of the well-being indicators such as consumption, access to goods and basic services, and housing fell from 85% in 2004 to 75% in 2014.

Development policies in the Comoros designed to scale up education and health expenditure, along with growing support from the diaspora through remittances that account for about 25% of GDP have helped enhance living conditions in the country and reduce poverty.

There have also been positive developments with respect to intergenerational labor mobility. Young men and women are increasingly choosing to work in more productive sectors than those of their parents. Living standards in households have therefore improved, owing largely to higher levels of education and greater access to means of communication and transport.

The report also provides strategic advice on accelerating economic growth and reducing poverty in the Comoros, including leveraging the country's assets and latent comparative advantages to create more productive employment, promote a more diversified, competitive, and formal economy, and provide more opportunities to better exploit the gains derived from migration and remittances.


Latest Press Release

SET welcomes restaurant operator Zen Corporation Group on February 20

The Stock Exchange of Thailand (SET) will list Zen Corporation Group pcl – a leading operator of restaurant brands in Thailand – on February 20, under the ticker symbol "ZEN". The company has a market capitalization at its initial public...

Photo Release: EXIM Thailand Holds FX Risk Management Seminar Phase 2 To Promote FX Risk Hedging Tools for SME Exporters in the Northeast

Mr. Chana Boonyachai (center), Executive Vice President of Export-Import Bank of Thailand (EXIM Thailand), recently welcomed Mrs. Thatsanee Tangpattanasiri (right), Director, Northestern Regional Office, Bank of Thailand (BOT), and Mr. Ranon Keowsuddhi...

Frasers Property Thailands Revenue Increased 341% to 2.577 Billion Baht and Net Profit Rose 190% to 684 Million Baht in Q1/2019

Revenue totalled 2.577 billion baht, an increase of 1.993 billion baht or 341% year-on-year, while net profit totalled 684 million baht, a growth of 190% year-on-year. Embarked on a "Total Dimension" strategy to become leading provider of smart...

Photo Release: EXIM Thailand Visits Xayaburi Hydroelectric Power Project

Mr. Nopporn Thepsithar (fifth left), Chairman of the Board of Executive Directors, Export-Import Bank of Thailand (EXIM Thailand) and Dr. Narongchai Akarasanee (center), former Minister of Energy, recently visited Xayaburi Hydroelectric Power Project...

Thailands Promotion of Advanced Technology and Eco-system Development Enables Local Producers to Fly Higher

Thailand has been experiencing a gradual shift from a manufacturing to a high-value manufacturing economy after the country has put all its efforts into promoting the use of advanced technology, science, and innovation in parallel with the development of...

Related Topics