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World Social Protection Report 2020-22- Highlights

World Social Protection Report 2020-22- Highlights

Recently, a International Labour Organization report titled ‘World Social Protection Report 2020–22’ has revealed that, globally 4.1 billion people are living without any social safety net of any kind.

Key Findings of report

Rich Poor divide

This report examined the impact COVID-19 pandemic on social protection. It found, an additional spending required to ensure minimum social protection for all and reduce the financing gap has increased by 30 per cent since the start of the pandemic. On an average, countries spend approximately 13 per cent of GDP on social protection. However, high-income countries spend 16.4 per cent of GDP on social protection. On the other hand, low-income countries spend just 1.1 per cent.

Social Protection

Social protection comprises of access to healthcare and income security in cases of unemployment, old age, inability to work, and for families with children.

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