Sri Lanka among South Asia's top wealth inequality hotspots - UN Report

COLOMBO (News 1st) - A United Nations Development Programme Regional Human Development report has pointed out that the countries exhibiting the highest wealth inequality in South Asia, as measured by the wealth share of the top 10 percent, include Sri Lanka.

The United Nations Development Programme Regional Human Development report, using data tracked by the World Inequality Database showed that Asia and the Pacific have some of the biggest gaps between the rich and the poor in the world.

The UNDP report highlighted that inequality remains deeply entrenched – the richest 10 percent consistently command over half of total income, and in South Asia in particular, income inequality has been worsening.

There are persistent inequalities in the distribution of wealth, especially in South-East Asia and South Asia, with the highest wealth inequality observed in China, India, Myanmar, Sri Lanka and Thailand.

It added, "human development progress overall has been very uneven."

The report highlighted that "inequality is further exacerbated by corruption, and weak tax policy and 
administration, as well as by the lack of effective social 
safety nets."