The world expects a repeat of the Great Depression – UN



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The world expects a repeat of the Great Depression - UN

Airlines laid off tens of thousands of employees due to crisis

Tens of millions of people are at risk of poverty due to the pandemic. The UN is not committed to predicting the consequences of the crisis.

Due to the coronavirus pandemic, the world is approaching an unprecedented economic crisis comparable to the Great Depression of the 1930s, according to a United Nations report.

Worldwide, 176 million people are projected to face poverty.

It is observed that the measures taken to support citizens during a pandemic are not enough.

“Another 176 million people could fall into poverty if we use a baseline poverty rate of $ 3.2 per day. This equates to a 2.3% increase in poverty rates in the non-COVID-19 scenario.” said a UN official. Olivier de Schutter,

He called on States to take more determined steps to eradicate poverty and inequality, since in the current situation, in his opinion, a serious crisis is inevitable and its consequences will seriously affect humanity.

It is observed that many families around the world have already depleted their reserves and are in dire straits.

As reported, in 2020, the world economy is expected to “delobalize,” a growth slowdown to 3.4%, according to experts from consulting firm PwC.

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