Poverty In Italy Reaches Highest Level Since 2005 – ISTAT

Posted by African Examiner Europe, Featured, Latest Headlines Thursday, March 4th, 2021

(AFRICAN EXAMINER) – The preliminary estimate of the National Statistics Institute (ISTAT) on Thursday reported that absolute poverty in Italy reached the highest level in 2020 since 2005.

“Absolute poverty returns to growth and reaches its highest level since 2005,” ISTAT said in a statement.

“Preliminary estimates for 2020 show the growth of absolute poverty indicators both for family units (rose from 6.4% in 2019 to 7.7% in 2020), with over 2 million families (living in absolute poverty).

“However individuals poverty growth (rose from 7.7% to 9.4% in 2020), which amounts to 5.6 million individuals,’’ the statement read on.

Thus, the coronavirus pandemic has caused a much greater poverty in Italy than the economic crisis of 2008.

ISTAT noted that in 2008, the level of absolute poverty stood at less than four per cent for families, and around three per cent for individuals. (NAN)