Question

Economic growth is key to bringing people out of poverty. What can countries do to foster economic growth?

Answer 1

Sustained rise in GDP over the longer period of time is called economic growth. Economic growth affects the number of people living under the poverty line profoundly. China and India, with help of economic growth have pulled million of people out of poverty. Thus, economic growth is key to bring people out of poverty. Following steps can be taken to foster economic growth:

• Developing infrastructure: Developing infrastructure such as road, transports, telecommunication pushes up economic growth.
• Developing technology: Technology and innovation affect the economic growth by increasing productivity.
• Human resources: Human resource uses all other factor to enhance economic growth. Human capital can be improved by investing in education and skills development.