They announced the value in Colombian pesos so as not to be considered in a situation of monetary poverty.
News Colombia.
Colombia registered one of the most encouraging figures in poverty in recent years. According to the most recent report by the National Administrative Department of Statistics (DANE), 1’267.063 people left monetary poverty in 2024, a significant improvement that was not observed since 2012. The result reflects an advance in the income of thousands of homes that managed to overcome the poverty line and cover their basic needs.
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Monetary poverty in the country was reduced to 31.8 % in 2024, which represents a decrease of 2.8 percentage points compared to 34.6 % reported in 2023. This decline of 7.2 points accumulated compared to previous years is qualified by the authorities as a “historical milestone”, in the middle of a context marked by global and local economic challenges.
For its part, extreme monetary poverty also showed a slight improvement. In 2024, the incidence was 11.7 %, which represents a reduction of 0.9 percentage points compared to 2023, when it was 12.6 %. These figures indicate that, although the recovery has been gradual, there are positive signals of improvement in the living conditions of the most vulnerable population.
In urban areas, monetary poverty dropped from 31.8 % to 28.6 %, while in populated centers and scattered rural areas it went from 44.0 % to 42.5 %. Although the urban-rural gap remains considerable, the figures reflect an even advance in different regions of the country, which suggests positive impacts on social inclusion policies and focused transfers.
According to the DANE, in 2024 the monetary poverty line was established at $ 460,198 per month, equivalent to $ 1’840.792 for a home of four members. As for extreme poverty, it set at $ 227,220 per person, or $ 908,880 for a family of four. This means that any person with income below those amounts is considered in a condition of poverty or extreme poverty, respectively.
Despite the positive balance, experts warn that even more than 15 million Colombians continue in monetary poverty, so they call to maintain and strengthen employment generation strategies, work formalization, improvement of purchasing power and equitable access to social services. The reduction of poverty is an advance, but it is still one of the main structural challenges of the country.
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