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Thursday, 20 September 2012

GDP alone not a good measure of poverty

According to the EP development (DEVE) committee, countries cannot be selected for bilateral development aid on the basis of per-capita income alone.  MEPs call for a broader approach and recall the huge poverty and inequality challenges in "upper middle-income countries", which would lose EU bilateral aid under the Commission's plans.
The committee adopted a set of amendments to the Commission's proposal for the Development Cooperation Instrument (DCI) — the EU's largest external financing instrument. — to which it has earmarked EUR 23.3 billion for 2014-2020.
Delving into the GDP indicator, the rapporteur Thijs Berman, stressed that “the EP is ensuring that the focus is on the poorest countries and the most vulnerable groups. GDP alone does not reflect the level of poverty in countries. You have to take into account the spread of wealth”.

Source: European Parliament