New Delhi, Sep 29 (TIWN) Investing in job-rich growth, social protection and a just transition to a net-zero emissions future, particularly in low -and middle-income countries, could prevent a further deepening of the inequalities between developed and developing economies that have been exacerbated during the Covid-19 pandemic, said UN Secretary-General, Antonio Guterres.

At least USD 982 billion in fiscal stimulus measures is needed to respond to the immediate labour market shocks of the crisis and to support a just transition, as well as USD 1.2 trillion annually for social protection floors in low- and middle-income countries. "No advanced economy has achieved economic and social progress without investing in social protection systems and quality public services that provide people with the necessary support to navigate the vicissitudes of their lives," Guterres said in a policy brief issued on Tuesday.

The UN Secretary-General had presented the brief at a virtual high-level meeting at the UN late on Tuesday night India time.

While the wealth of billionaires increased by over USD 3.9 trillion between March and December 2020, the impact of the pandemic on the world of work, among other factors, increased the number of extremely poor by between 119 and 224 million people -- the first increase in poverty in over 21 years, a release from the UN said.