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UN-predicted the Great Depression for the world

The United Nations has warned of an unprecedented economic crisis, comparable to a new Great Depression that will affect the entire world. These findings are published in a new UN report.

The representative of the organization Olivier De Schutter drew attention to the fact that many countries have taken short-term measures to support citizens during the pandemic, however, according to the organization, they are already becoming insufficient.

“Another 176 million people can fall into poverty if we use a baseline poverty rate of $3.2 per day. This is equivalent to a 2.3% increase in the poverty rate compared to the “no Covid-19” scenario, he said.

The expert explained that many families around the world have already used up their reserves and are in dire straits.

In this regard, Schutter stressed that the international community must take more decisive steps to eradicate poverty and social inequality. In the current situation, when a serious crisis is inevitable, and its consequences will seriously affect humanity, it is very important to pay more attention to the dire financial situation of people.

In the spring of this year, the adviser to the American president, Kevin Hassett, admitted that unemployment in the United States could reach the level of the Great Depression.

“If we recall 2008-2009, then the drop in world GDP was 0.1%. This time, according to experts from the IMF, World Bank, and other organizations, it will be somewhere around 5%. That is, the difference is colossal. Many people compare this with the Great Depression of the 1930s or even with the post-war events, “the head of state noted, adding that” in the United States, GDP is projected at 9%”

Recall that the Great Depression began in 1929 and lasted for about 10 years. As a result of the crisis in industrialized countries with developed market economies, there were about 30 million unemployed.

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