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Socioeconomic Impact of Coronavirus Disease 2019 in South Asia: Fiscal Policy Response and Fiscal Needs for Supporting the Economic Recovery

Author

Listed:
  • Sajid Amin Javed

    (Research Fellow and heads Policy Solutions Lab at the Sustainable Development Policy Institute (SDPI) Pakistan)

Abstract

This paper assesses the socioeconomic impacts of Covid-19 in three South Asian economies -- Pakistan, Afghanistan, Sri Lanka -- and corresponding fiscal policy responses to mitigate these impacts. Further, it appraises the sufficiency of these fiscal policy responses to support the economic recovery in respective economies. It also estimates fiscal needs to finance the economic recovery and assesses existing fiscal space to meet the fiscal needs. Based on the assessment, it proposes possible option to enhance fiscal space. It also proposes policy measures to align fiscal stimulus to SDGs agenda and possible venues for regional cooperation to reach to a shared recovery.

Suggested Citation

  • Sajid Amin Javed, 2021. "Socioeconomic Impact of Coronavirus Disease 2019 in South Asia: Fiscal Policy Response and Fiscal Needs for Supporting the Economic Recovery," MPDD Working Paper Series WP/21/03, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP).
    • Handle: RePEc:unt:wpmpdd:wp/21/03
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    File URL: https://www.unescap.org/kp/2021/working-paper-socioeconomic-impact-coronavirus-disease-2019-south-asia-fiscal-policy
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    More about this item

    Keywords

    Fiscal Policy; fiscal stimulus; fiscal needs; economic recovery; economic policy; COVID-19; South Asia;
    All these keywords.

    JEL classification:

    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • H68 - Public Economics - - National Budget, Deficit, and Debt - - - Forecasts of Budgets, Deficits, and Debt
    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development

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