Poverty in Colombia dropped 6.7 percentage points to 33% of the population between 2021 and 2023, according to statistics agency DANE.
This means that last year some 15.8 million people lived off less than $109.50 (COP435,375) per month.
According to DANE, poverty reduction programs allowed some 1.6 million people to lift themselves out of poverty last year alone.
Percentage of population living below poverty line
The statistics agency’s director, Piedad Urdinola, told press that last year’s reduction in poverty was successful because of financial support for vulnerable sectors in the countryside where poverty has historically been high.
Notwithstanding, DANE statistics showed that 41.2% of Colombia’s rural population lived in poverty last year compared to 30.6% in urban areas.
The poverty reduction policies were apparently less effective for people living in extreme poverty or with an income of less than $55 (COP218,846) per month.
The government of former President Ivan Duque introduced financial aid for the poor in response to the COVID-19 pandemic, which had a dramatic effect on the poor.
The Petro administration expanded this policy and sought to diminish the wealth gap through tax reforms.