Poverty is one of the most prominent global crises and hazardous social phenomena in various nations, and in light of the proceeding economic outcomes of the corona pandemic, and after going through numerous multinational political dilemmas in the last decade, the globe has witnessed an intense increase in global poverty.
The pandemic has disrupted lives across all countries and communities and negatively affected global economic growth beyond anything. Millions of employees and enterprises face an existential threat. Nearly half of the world’s global workforce is at risk of losing their livelihoods. Informal economy workers are particularly vulnerable because the majority lack social protection and access to quality health care and have lost access to productive assets which increases hunger and poverty levels.
On the other hand, Ines pointed to a significant decline in working hours and average allowances, which led to an obvious unevenness in the norm of living of a vast number of families.
Besides, businesswoman Ines Harrak explained that the world is witnessing a dreadful decline in investment rates as a result of the recent global economic recession, which has chiefly contributed to the widening gap between different notches of society.
In conclusion, Harrak said that the developed countries are striving to build back better through developing long-term sustainable economic strategies to address the challenges encountering varied districts to cease the deterioration and ensure the reduction in the stringency of poverty.
