Goal 1: Eradicate extreme poverty and hunger

Robust growth in the fi rst half of the decade reduced the number of people in developing regions living on less than $1.25 a day from 1.8 billion in 1990 to 1.4 billion in 2005, while the poverty rate dropped from 46 per cent to 27 per cent. The global economic and fi nancial crisis, which began in the advanced economies of North America and Europe in 2008, sparked abrupt declines in exports and commodity prices and reduced trade and investment, slowing growth in developing countries. Nevertheless, the momentum of economic growth in developing countries is strong enough to sustain progress on the poverty reduction target. The overall poverty rate is still expected to fall to 15 per cent by 2015, indicating that the Millennium Development Goal (MDG) target can be met. This translates into around 920 million people living under the international poverty line—half the number in 1990.

Related Subject(s): Economic and Social Development