Covid-19 may push half a billion people below poverty line

Covid-19 may push half a billion people below poverty line

It seems that the impact of Covid-19 is not limited to infections and deaths, but the economic impact associated with the virus seems to be significant for many people around the world.

According to research by King's College London and the Australian National University on behalf of Oxfam organization, the economic implications of the coronavirus could push an additional half a billion people into poverty, if all urgent economic measures are not taken to address this potential impact.

The short-term impact of the virus on the global poverty line was estimated based on the World Bank's poverty lines of $1.90, $3.20 and $5.50 per day, according to the research.

For the first time since 1990, the expected impact of the virus, which involves a 20 percent reduction in income, will eliminate up to 30 years of success in reducing poverty around the world.

In the first place came East Asia and Pacific region, where 239.8 million people are expected to earn less than $5.50 per day.

Latin America and the Caribbean emerged in third place, with 54.3 million people expected to be pushed below the poverty line.

In the sixth place is Europe and Central Asia, where the region contains the country’s most economically prepared for such crises ,as  the figures indicates that the numbers may reach up to 30.5 million people.

In the last place are the most economically strong countries where income swells significantly for individuals, with figures indicating that potential impact people could reach only 4.7 million people.

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