COVID-19

SOCIO-ECONOMIC IMPACT

 

The UN’s Framework for the Immediate Socio-Economic Response to the COVID 19 Crisis warns that “The COVID-19 pandemic is far more than a health crisis: it is affecting societies and econ­omies at their core. While the impact of the pandemic will vary from country to country, it will most likely increase poverty and inequalities at a global scale, making achievement of SDGs even more urgent.

Assessing the impacts of the COVID-19 crisis on societies, economies and vulnerable groups is fundamental to inform and tailor the responses of governments and partners to recover from the crisis and ensure that no one is left behind in this effort.

Without urgent socio-eco­nomic responses, global suffering will escalate, jeopardizing lives and livelihoods for years to come. Immediate development responses in this crisis must be undertaken with an eye to the future. Development trajectories in the long-term will be affected by the choices coun­tries make now and the support they receive.”

The United Nations has mobilized the full capacity of the UN system through its 131 country teams serving 162 countries and territories, to support national authorities in developing public health preparedness and response plans to the COVID-19 crisis.

Over the next 12 to 18 months, the socio-economic response will be one of one of three critical components of the UN’s COVID-19 response, alongside the health response, led by WHO, and the Global Humanitarian Response Plan.

As the technical lead for the socio-economic response, UNDP and its country offices worldwide are working under the leadership of the UN Resident Coordinators, and in close collaboration with specialized UN agencies, UN Regional Economic Commissions and IFIs, to assess the socio-economic impacts of the COVID-19 pandemic on economies and communities. The assessment reports available on this site contain the preliminary findings of regional and country analyses.

Massive production disruptions that started in China have led to a lower supply of goods and services that reduces overall hours worked, leading to lower incomes.

Photo:
UNDP China

Briefs and Reports

 

Brief #2: Putting the UN Framework for Socio-Economic Response to COVID-19 into Action: Insights

Across the globe, the UN is supporting countries in preparing assessments of the socio-economic impacts of Covid-19. What are these assessments saying and what are the key socio-economic issues caused by the pandemic that the UN and its partners are seeing on the ground?

On behalf of the UN, UNDP prepares the monthly briefs Putting the UN Framework for Socio-Economic Response to Covid-19 Into Action exploring latest trends and providing key insights and analysis on the socio-economic impacts of Covid-19 on economies and societies.