34.3 million people to fall into extreme poverty: UN

The UN is forecasting that the coronavirus pandemic will shrink the world economy by 3.2 percent this year, the sharpest contraction since the Great Depression in the 1930s, pushing an estimated 34.3 million people into extreme poverty mostly in Africa.

The UN's mid-year report said COVID-19 is expected to slash global economic output by nearly $8.5 trillion over the next two years, wiping out nearly all gains of the past four years.