Dynamics of poverty and reduction of low income population in developing countries

The term “poverty” is interpreted in different ways around the world due to the multidimensional nature of the phenomenon itself. While in some countries and geographical regions poverty is considered as deprivation, in others it is analyzed within the framework of situations of inequality in the distribution of resources and social exclusion. Despite the differences in the characteristics of this problem, many developing Countries have been using universal approaches to poverty reduction for many years. The purpose of the article is to study conceptual approaches to the definition of poverty with an emphasis on their evolution and the analysis of measures taken in recent years leading to a reduction in the level of poverty. Using the methods of secondary data analysis and studying the opinions of both domestic and foreign scientists, the author came to the conclusion that universal approaches to poverty reduction have not had the proper effect, and it is necessary to consider the problem of poverty as a global phenomenon, but solve it at local levels using local indicators. To achieve sustainable development, countries should focus on meeting the basic needs of their residents and strive to ensure stable political and economic conditions. This problem of increasing the level of poverty is most relevant during the emerging pandemic, when due to the inability to sell their goods and services, some enterprises are closed, and people are left without a job and means of livelihood. The article examines the poverty reduction programs implemented in recent years, their successes and problems. As a solution to the problem, the author proposed a practical event with the expected participation of state bodies and domestic producers, the purpose of which is to provide the population with support: to reduce the financial burden of the poor segments of society and domestic companies during the pandemic.