Nepal is likely to meet the Millennium Development Goal (MDG) of reducing poverty level to 21 percent of the population by 2015 as it has already brought down the figure to 25 percent by 2008, The Kathmandu Post reported on Monday.

A progress report on MDG prepared by the National Planning Commission (NPC) says poverty is declining at the rate of 1 percent annually. In 2005, the population below the poverty line was 31 percent.

According to an assessment report, the poverty gap also declined from 7.55 in 2005 to 6.10 in 2008. "It means the average gap between the haves and have-nots has narrowed down," said former NPC Vice Chairman Jagadish Chandra Pokharel at a consultation meeting on Sunday. Pokharel prepared the assessment report on poverty related targets.

"The government's allocation of a budget of around 43.7 percent for poverty reducing programs, non-governmental organizations' efforts and social safety programs are responsible for the achievements in poverty reduction," Pokharel said.

(Xinhua News Agency February 15, 2010)