A staggering 71 million more people around the world are experiencing poverty as a result of soaring food and energy prices that climbed in the weeks following the Russia-Ukraine war, the United Nations Development Program said in a report Thursday, SİA reports citing Associated Press.
The UNDP estimates that 51.6 million more people fell into extreme poverty in the first three months after the war, living off $1.90 US a day or less. This pushed the total number globally at this threshold to nine per cent of the world's population. An additional 20 million people slipped to the poverty line of $3.20 a day.
In low-income countries, families spend 42 per cent of their household incomes on food, but as Western nations moved to sanction Russia, the price of fuel and staple food items like wheat, sugar and cooking oil soared. Ukraine's blocked ports and its inability to export grains to low-income countries further drove up prices, pushing tens of millions quickly into poverty.
"The cost-of-living impact is almost without precedent in a generation … and that is why it is so serious," UNDP administrator Achim Steiner said at the launch of the report.
The speed at which this many people experienced poverty outpaced the economic pain felt at the peak of the pandemic. The UNDP noted that 125 million additional people experienced poverty over about 18 months during the pandemic's lockdowns and closures, compared with more than 71 million who hit poverty in just three months after the Russia-Ukraine war in late February.
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