Kathmandu, May 23
According to research, the Covid-19 pandemic has produced a new millionaire every 30 hours, and one million people will fall into extreme poverty at the same pace by 2022.
Profiting from Pain, a recent Oxfam report claims that the Covid-19 pandemic has generated a new billionaire every 30 minutes and would force one million people into extreme poverty by 2022.
According to the survey, billionaires in the food and energy industries are boosting their
spending by $1 billion every two days while the cost of basic commodities rises faster than it has in decades.
For the first time since Covid-19, the report was made public in person at the World Economic Forum in Davos. International organizations urged during the meeting that it was time to tax the wealthy to support the poor.
According to Oxfam, the growing cost of living will force 263 million people into severe poverty this year. As a result, every 33 hours, one million people will be forced into poverty.
