While the disparity between the richest and poorest countries has slightly narrowed, the gap remains alarmingly high.
In the past two decades, we have witnessed a significant increase in inequalities within most countries, with the income gap between the top 10% and the bottom 50% nearly doubling.
High inequality harms economic development as it inhibits innovation, prevents people from developing their full potential, weakens social cohesion, and hinders necessary structural reforms.
There is a growing global awareness of the importance of sustainable and equitable growth alongside prosperity.
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