Developing Asia’s Fiscal Landscape and Challenges
Publication | June 2022
This paper analyzes how substantial fiscal policy stimulus in response to COVID-19, combined with the impact of the downturn on revenues, has severely weakened public finances in many developing Asian economies.
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Analysis drawing on newly compiled data shows that while tax revenues in developing Asia steadily rose in the 2 decades before the COVID–19 pandemic, they continued to lag well behind high-income economies and some developing peers. The region relies on indirect taxes, creating a relatively efficient but less progressive tax structure, while government expenditures on education and health were comparatively modest.
- Developing Asia’s Tax and Expenditure Landscape
- The Impact of COVID-19 and Meeting the Challenge of Fiscal Policy for Sustainable Development