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UN: 10% of global output should be directed to combating poverty

poverty

The United Nations has called on the world’s economies to direct 10% of global output to fight poverty and climate change.

According to a report issued by the United Nations, the world needs $100 trillion to tackle poverty, climate change and address deficits.

The United Nations believes that the aforementioned amount is necessary to achieve the goals it adopts until 2030.

United nations

The United Nations Sustainable Development Goals program set several goals in all areas from the environment to health and equality and is supported by all Member States.

However, the proceeds of its financing from governments, investors, banks and companies that help achieve these goals have consistently remained well below what is required.

According to the report, the annual deficit now due to the impact of the Coronavirus pandemic reaches ten trillion dollars.

“Humanity is at a crossroads. More than ever, all stakeholders must partner to ensure this crisis is the beginning of a new economics for sustainable development with prosperity for all,” said Chantal Line Carpentier, Chief, UN Conference on Trade and Development in the New York Office of the Secretary-General.

In 2015, all member states of the nations adopted the Sustainable Development Goals (SDGs), also known as the Global Goals, as a global call to action to end poverty, protect the planet and ensure that all people enjoy peace and prosperity by 2030.

Corona and poverty

The UN confirmed last June that the pandemic, which has been spreading for 17 months, plunged an additional 100 million workers into poverty due to the significant decrease in working hours and the absence of good job opportunities.

In its annual report, the International Labor Organization warned that the crisis will be prolonged, as employment will not recover to pre-pandemic levels until 2023.

The annual report of the Organization and Social Prospects indicated that the world will lose 75 million jobs at the end of this year, compared to what it would have been if the pandemic had not occurred, and the number of jobs would remain less by about 23 million jobs by the end of next year.

“The Corona virus pandemic is not just a medical crisis, but a social and economic one too,” says ILO Director-General Guy Ryder.

While many people kept their jobs, their total hours of work shrunk dramatically.

In 2020, 8.8 percent of global working hours were lost compared to the last quarter of 2019, which equates to 255 million full-time jobs.

Meanwhile, the decline in employment and working hours has translated into a sharp decline in labor income and an increase in poverty.

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