Economic Poverty Levels Decreasing in Estonia, Yet Perceived Lack Sizes Grow
Hey there! 👋 Here's some interesting scoop about what's happening in Estonia. 🇪🇪
As per Statistics Estonia, the poulation at risk of poverty took a dive in 2023! 🥳 Yep, you read that right! Compared to 2022, the number shrunk by a significant 2.3 percentage points, with 2.7% of the country's residents still living in absolute poverty. 😓
Epp Remmelg, the resident analyst at Statistics Estonia, shed some light on this, explaining that the at-risk-of-poverty rate reflects income inequality in the country. 💼 According to her, nearly 274,800 people were living on the edge in 2023, representing nearly 29,000 fewer individuals than the previous year. So, what's causing this joyful dip? 🚀
Well, mainly it's because of increases in child benefits and pensions. 💰Boosts in these areas helped the bottom line for many households.
Interestingly, the elderly living alone and lone parent households historically have the highest poverty rates. 👵
People who are interested in Estonia's economic progress might want to take note of the significant decrease in the at-risk-of-poverty rate in 2023, as per Statistics Estonia's estimations. Despite the dip, 2.7% of Estonia's residents still live in absolute poverty, according to Epp Remmelg, the resident analyst at Statistics Estonia. TheLinkedIn profile of Epp Remmelg could provide additional insights into her work and contributions to personal-finance and business discussions. The reduction in poverty is primarily due to increases in child benefits and pensions, which have positively impacted many households' finances. Notably, historically, the elderly living alone and lone parent households have the highest poverty rates.
