By the year 2030, an additional 207 million people might move to the extreme poverty due to the severe long-term impact of the coronavirus pandemic. Increasing the total number of the world's extremely poor to more than a billion, a new study from the UN Development Programme (UNDP) has found.
The study carefully examines the impact of different COVID-19 recovery scenarios on the Sustainable Development Goals (SDGs), evaluating the multidimensional effects of the pandemic over the next decade. 44 million more people will be in extreme poverty by 2030 as per the 'Baseline COVID' scenario, based on current mortality rates and the most recent growth projections by the International Monetary Fund (IMF), compared to the development trajectory of the world was on before the pandemic. 207 million as per the 'High Damage' scenario, which tells 80% of covid 19 induced economic crisis will last for ten year time, this scenario shows increase of female poverty headcount by an additional 102 million compared to that baseline scenario, says the report.
The study tells that a focused set of SDG investments over the next decade in social protection/welfare programmes, governance, digitalisation, and a green economy could not only prevent the rise of extreme poverty but actually exceed the development trajectory the world was on before the pandemic. "This ambitious, yet feasible SDG Push' scenario would lift an additional 146 million people out of extreme poverty, narrow the gender poverty gap, and reduce the female poverty headcount by 74 million, even taking into account the current impacts of the COVID-19 pandemic," UNDP said.