The world has enough wealth and resources to ensure that the entire human race enjoys a decent standard of living, yet many people continue to live in desperate poverty. 

This article is not going to list the world’s poorest countries but is going to outlay how Zimbabwe being endowed with plenty of natural resources is considered as one of the poorest country in the World.

South Sudan is currently the poorest country in the World. Malawi, Zimbabwe’s neighbour is also contending for top accolade for the poorest nation as it falls in the list of top 10 poorest countries.

According to International Monetary Fund, World Economic Outlook April 2024 ranks Zimbabwe at number 19, a contender for the undesirable title of the world’s poorest country.

Zimbabwe is on this situation due to years of political instability and election conflict.

To determine the poorest countries in the world, GDP per capita is often considered the standard metric, compensating for differences in living costs and rates of inflation by using purchasing power parity (PPP) can better assess an individual’s buying power in any given country.

There are several causes for long-term poverty in Zimbabwe. In the country, corrupt government reduces a rich nation into a poor one.

The World Bank has forecasted that in low and middle-income countries, the current generation of students could lose up to 10% of their future average annual income.

Zimbabwe’s Gross national income per capita (PPP method) as of 2022 was $2,550 and Gross domestic product (current USD) as on 2022 was $27.4 billion (#108 highest of 193 countries)

Zimbabwe’s GDP growth was +6.5% (#42 highest of 193 countries)

The Average life expectancy at birth as of 2021 was 59.3 years (#179 highest of 193 countries)

Zimbabwe’s Average annual population growth, 2000-2022: 1.5% (#77 highest of 193 countries)

IFs estimates that nearly one out of three Zimbabweans (4.4 million people) live on less than the international extreme poverty line of US$1.90 per day.

Roughly two out of five Zimbabweans (6.7 million people) are living on less than US$3.20, the extreme poverty line for lower middle-income countries.

Although this poverty rate of nearly 45% will decline to 20% by 2043, 4.7 million Zimbabweans will be living in extreme poverty by 2043 on the Current Path.

By Tsikdem

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