Low-income countries in Central and Western Asia, Northern Africa, and Sub-Saharan Africa would need to spend nearly 16 per cent of their GDP or $80 billion to close the social protection financing gap worsened by the COVID-19 pandemic, the latest policy brief from the International Labour Organisation (ILO) has shown.

The study released on Thursday explained that additional sources of financing are needed to guarantee at least basic income security and access to essential health care for all in 2020 alone.

It added that developing countries should invest approximately $1.2 trillion – on average 3.8 percent of their GDP to close the gap which had been before the pandemic.

“Since the onset of the COVID-19 pandemic, the social protection financing gap has increased by approximately 30 percent according to Financing gaps in social protection: Global estimate and strategies for developing countries in light of the COVID-19 crisis and beyond.

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