Sustainable and inclusive economic growth can drive progress, create decent jobs for all and improve living standards. Economic prosperity requires societies to create conditions that allow people to have quality jobs that stimulate the economy while not harming the environment. Increased commitments to trade, banking and agricultural infrastructure will also help increase productivity and reduce unemployment levels in the world’s most impoverished regions.
COVID-19 has disrupted billions of lives and endangered the global economy. As job losses escalate, the International Labor Organization (ILO) estimates that nearly half of the global workforce is at risk of losing their livelihoods. The economic and financial shocks associated with COVID-19 such as disruptions to industrial production, falling commodity prices, financial market volatility, and rising insecurity are threatening economic growth globally.