Elena Panaritis, an institutional economist and global policy advocate, has highlighted that nearly 70 percent of the world's population resides in informal settlements. These areas, characterized by inadequate infrastructure and lack of legal recognition, pose significant challenges to economic development and shared prosperity. Panaritis emphasized the urgent need for policy interventions to address the issues stemming from informality, which can hinder access to essential services and opportunities for millions. The findings underscore the critical importance of integrating informal settlements into broader urban planning and development strategies.
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