71.000.000 People Are Below the Poverty Line Because of Russia 

by Olha Povaliaieva
Wednesday, July 14, 2022
71.000.000 People Are Below the Poverty Line Because of Russia 

According to UN, Kremlin war on Ukraine has affected developing countries more than the COVID-19 crisis

Since the beginning of spring 2022, 71 million people from developing countries have fallen below the poverty line, according to a report by the United Nations Development program.

"The effects of the war in Ukraine have disrupted energy and food markets. Among many other factors, disruptions in supply chains and price spikes in key commodities are pushing the world into a dangerous inflationary surge. This will have immediate and devastating effects on the welfare of households, with those in poverty almost poverty tends to be hit the hardest," the report says.

The UN researchers call the increase in inflation as the primary reason, then the increase in interest rates, and this entails a recession and an increase in the level of poverty. According to analysts, the number of people who can no longer buy their own food will increase.

The second reason, says United Nations Development program administrator Achim Steiner, is the sharp rise in the country's main raw materials imported and exported. 159 countries were included in the analysis, including Kyrgyzstan, Moldova, Mongolia, Tajikistan, Armenia, Uzbekistan and some other countries.

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