The ability of strong GDP growth to lower poverty may be its most direct effect. Growth in economies brings with it more work possibilities, raising income levels and living standards. In turn, this promotes a more fair allocation of income by helping individuals escape poverty.
According to the United Nations ‘World Economic Situation and Prospects 2024,’ report some African countries are set to fall into this category as they were given the highest economic growth prospects on the continent.
Recognizing the global struggle to record better milestones, the UN Secretary-General António Guterres, noted that increased investments and a focus on climate change are two major keys in growing the world economy.
