Some aspects of the multidimensional poverty in Bosnia and Herzegovina-Evidence from household budget surveys, Edin Sabanovic (Bosnia and Herzegovina)

Poverty is still a big economic and social problem of almost every country. Therefore, it is very important to precisely define, identify and measure this phenomenon in order to be able to reduce poverty to a socially tolerable level. In the earliest approaches to measuring poverty, it was defined as the economic inability to meet basic needs and the minimum of living standards. However, modern methods of poverty analysis require a multidimensional approach to its measurement. In this sense, it includes many non-material dimensions of life, social and psychological dimensions of poverty and various forms of their manifestations. Analysing poverty based on only one, mainly monetary dimension, either income or consumption, has long been overcome. In addition to the level of income or consumption, various indicators can also indicate economic deprivation: housing quality indicators and possession of durable goods, share of a specific type of consumption in the total consumption, etc. As there is no universally accepted (only one) definition of poverty, there is no universal definition of multiple poverty either.