By Cathy Elelman • 23 June 2020 • 11:08
THE Covid-19 pandemic and its impact on the economy could push 700,000 people in Spain into poverty and widen the country’s wealth gap, according to Oxfam Intermon.
The NGO’s ‘A fair and necessary reconstruction is possible’ report predicts the estimated nine per cent drop in GDP and 19 per cent rise in unemployment will increase relative poverty by 1.6 per cent to 23.1 per cent of the population. In other words, the crisis will leave 10.8 million Spaniards in poverty.
Oxfam Intermon expects the Balearic Islands, Castilla y Leon, Aragon and Cataluña to register the biggest per cent rises. In absolute terms, it forecasts Andalucia will see the most people fall into poverty, with 201,000 more.
The report also says that income inequality will increase by 1.7 per cent on the Gini Index, the coefficient commonly used to measure nations’ inequality levels. In Spain it will therefore reach 34.2, compared with 32.5 pre-crisis.
Andalucia will have the biggest rise in inequality, the organisation concludes, followed by the Canary Islands and Extremadura.
By contrast, the NGO found that Spain’s 23 billionaires saw the value of their wealth go up by some €19,200 million between the middle of March and the beginning of June.
Share this story
Subscribe to our Euro Weekly News alerts to get the latest stories into your inbox!
By signing up, you will create a Euro Weekly News account if you donâ€™t already have one. Review our
Cathy Elelman is the local writer for the Costa de Almeria edition of the Euro Weekly News.
Based in Mojacar for the last 21 years, Cathy is very much part of the local community and is always well and truly up on all the latest news and events going on in this region of Spain.
Her top goals are to do the best job she can informing the local English-speaking community, visitors to the area and the wider world about about the news in Almeria, to learn something new every day, and to embrace very new challenge this fast-changing world brings her way.
Share your story with us by emailing [email protected], by calling +34 951 38 61 61 or by messaging our Facebook page www.facebook.com/EuroWeeklyNews
Download our media pack in either English or Spanish.