THE IMPACT OF COVID‑19 ON THE SOCIO-ECONOMIC STABILITY OF THE MIDDLE CLASS

The middle class is the basis of socio-economic stability of the state, acts as a generator of economic, social, cultural and institutional transformations. The consumption model of this class is above the subsistence level, which allows them to invest in production activities, to accumulate physical and human capital. Increasing income leads to increased spending on health and education, leisure and entertainment, leads to an increase in the range of consumer goods. Quantitative and qualitative parameters of the middle-class assessment serve as a platform for characterizing living standards and redistribution of economic growth in the country. The tasks of expanding the middle class, combating poverty, smoothing socio-economic asymmetries and imbalances, and improving the well-being of the population are at the heart of the 2030 Agenda for Sustainable Development. Globally, the negative effects of the Covid-19 pandemic create obstacles to achieving the UN Sustainable Development Goals. The world government should reduce the number of poor by at least half by 2030 (Sustainable Development Goal 1, Target 1.2), expand opportunities and promote social, economic and political inclusion of all segments of the population, regardless of their economic status (Sustainable Development Goal 10, Target 10.2), but the pandemic makes its adjustments. In regions such as South Asia and sub-Saharan Africa, instead of reducing poverty, it has risen to 1990 levels. The middle class has suffered the most in South Asia and the Asia-Pacific region. There is no doubt that the Covid-19 pandemic will provoke the deepest socio-economic crisis in 100 years. Representatives of the middle class in India, Brazil, South Africa, Thailand and Ukraine continue to record rising food and real estate prices, their purchasing power is declining, and central banks are forced to tighten monetary policy prematurely. In order for the middle class to stimulate economic growth, increase investment, maintain adequate consumption, use public and private services, national governments and the international community must respond quickly to the crises triggered by Covid-19 and take the necessary measures to eliminate them in order to ensure a decent standard of living above the poverty line.