Economy Local October 23, 2024

UNDP Report on Economic Development

The UNDP released a report highlighting key economic developments and challenges faced globally. The findings suggest areas for improvement and policy adjustments to foster growth.


UNDP Report on Economic Development

The United Nations Development Programme announced in a report issued on Tuesday that poverty in the world has increased due to the COVID-19 pandemic. According to the report, it is expected that the number of people living under the extreme poverty line will increase to nearly one billion by the end of the year.

The report also indicated that the economic impact resulting from the Corona pandemic will have a significant effect on the actual progress in achieving the Sustainable Development Goals.

Regarding developing countries, the report predicts a significant deterioration in the economic situation, where many residents of these countries live on less than $1.90 a day.

On her part, the director of the UN Development Programme stated that the pandemic has widened the gap between the rich and the poor, describing the situation as a "daily recurring catastrophe."

This report is a warning to the global community about the urgent need to take immediate actions to address increasing poverty levels and to mitigate the effects of the economic crises resulting from the COVID-19 pandemic.