Coronavirus set in motion a major economic crisis that will burden societies for years to come, the head of the Organization for Economic Co-operation and Development (OECD) warned Thursday.

Angel Gurri stressed that the pandemic has led to third and most serious economic, financial, and social shock the 21st century has seen.

Stating that more than one-third of OECD households are financially insecure, Gurri said they would fall into poverty if they have to forgo three months of their income.

He added that spreading trade restrictions will worsen the situation.

“More broadly, they increase the risk of a more

Read more: COVID-19: Societies to feel economic crisis for years