Absolute Poverty In Italy Reaches Highest Level Since 2005 - National Statistics Institute

Absolute poverty in Italy reached last year the highest level since 2005, according to the preliminary estimate of the National Statistics Institute (ISTAT)

GENOA (UrduPoint News / Sputnik - 04th March, 2021) Absolute poverty in Italy reached last year the highest level since 2005, according to the preliminary estimate of the National Statistics Institute (ISTAT).

"Absolute poverty returns to growth and reaches its highest level since 2005," ISTAT said in a statement on Thursday.

"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], and for individuals (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 percent for families, and around three percent for individuals.