FLORENCE/NEW YORK, 1 April 2021 Around 1 in 8 countries globally spends more on debt than on social services, according to a UNICEF report released today.
COVID-19 and the Looming Debt Crisis notes that 25 countries globally the majority of them already burdened by poverty and deprivation spent a higher proportion of total government expenditure on debt service in 2019 than they did on education, health and social protection combined. Global efforts are needed to protect social spending, and with it the right of every child to social security, education and health services, says the report.
Children living in countries with high debt burdens and limited resources for social protection, education and health are unlikely to ever break …
Read the full article at: https://www.unicef.org/press-releases/pre-pandemic-data-show-1-8-countries-spends-more-debt-education-health-and-social