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Italians are less wealthy, older than 20 years ago: Report
Italians are less wealthy, older than 20 years ago: Report

Rome, July 9 (TIWN) Italy's annual report on its economic condition found that the population has on an average become less wealthy, older, and more likely to live alone compared to a generation ago.

The 294-page "Annual Report 2022" from Italy's National Statistics Institute (ISTAT) was released Friday.  While Italy remains one of the world's wealthiest and most developed economies, the report shows overall conditions for residents have deteriorated in recent years.  The report said that 5.6 million Italian residents were living in absolute poverty last year, around 9.4 percent of the population. That is nearly three times the number of residents living in similar conditions in 2005 (1.9 million).  A person living in "absolute poverty" is unable to meet standard daily needs, including adequate shelter, a healthy diet and access to healthcare.  Another 4.9 million residents, or 21.7 percent of the population, are employed but considered "vulnerable." This means they are no more than one month's wages away from being classified as in absolute poverty, due to an array of precarious work conditions. More than 800,000 of these residents are considered "vulnerable."  However, the report says that government subsidies and aid programs have kept the poverty figures from being higher. ISTAT said that while those living in mild poverty accounted for 18.7 percent of the population in 2020, that figure would jump to 28.8 percent without government programs.

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