30 lakh more Bangladeshis set to sink into poverty: WB

Up to 3 million more people in Bangladesh may fall into poverty this year, says a new World Bank report. This will increase the extreme poverty rate in the country to 9.3 percent, it added.

In its latest "Bangladesh Development Update," released on April 23, the World Bank expressed concern over Bangladesh's deteriorating poverty situation.

The report released on Wednesday said that the weak labour market conditions will continue this year. In addition, the real income of people at risk of falling below the poverty line may decrease due to the reduction in wages of ordinary people.

The World Bank says that the slow pace of economic activity is having a greater impact on the lives of the poor. The organization believes that this will further increase inequality.

According to the report, the extreme poverty rate will increase from 7.7 percent to 9.3 percent. At the same time, the national poverty rate will increase from 20.5 percent to 22.9 percent this year.