UN: 30 million people will fall back into poverty even if war with Iran ends tomorrow

(Patria) - More than 30 million people worldwide will be pushed back into poverty even if the war between Iran and the US ended tomorrow, the United Nations warns.

- Globally, between 0.5 and 0.8 percent of GDP is being lost. What does that mean for the world's most vulnerable countries? It means that 32 million people will fall back into poverty - Alexander De Croo, head of the UN Development Programme, told Reuters.

De Croo, a former Belgian prime minister, says this is a consequence of soaring energy prices and growing food supply insecurity.

Besides oil, huge quantities of fertiliser also pass through the Strait of Hormuz, and Iran has effectively closed it.

De Croo warns that food shortages will peak in a few months.

- It is planting season now. If you plant now and have no access to fertilisers, productivity will be significantly lower in September, October and November… and food supply insecurity will peak in a few months - De Croo added.