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Fiscal Stimulus for an Inclusive, Green and Forward-Looking Recovery, Leveraging the SDG Agenda: An Assessment for Pakistan

Author

Listed:
  • Sajid Amin Javed

    (Research Fellow, Sustainable Development Policy Institute (SDPI))

  • Sara Zafar Cheema

    (Research Consultant, Sustainable Development Policy Institute (SDPI))

  • Dawn Holla

    (Fellow, National Institute of Economic and Social Research (NIESR))

Abstract

This study assesses Pakistan’s fiscal stimulus response to the COVID-19 pandemic, evaluating the degree to which it has managed to support a recovery, which is inclusive, green and forward-looking. In oreder to align recovery from COVID19 to SDGs agenda of the country, it is crucial for Pakistan to expand social protection, mainstream gender in all approaches and measures, roll-out a mass COVID-19 vaccination campaign, shift to green transport, cut fossil fuel subsidies and achieve an inclusive digital transformation. The study identifies the estimated costs and outlines financing options of these recommendations. Finally, the study simulates macroeconomic, social and environmental impacts of investment in people, green energy and digsital infarstrture on key macroeconomic indicators of the country which include public debt, GDP growth, (un)employment, poverty and CO2 emissions. Findings from these simulations, using the ESCAP’s Macroeconomic Model, support a strong economic and environment case for invesmnets recommended in this study.

Suggested Citation

  • Sajid Amin Javed & Sara Zafar Cheema & Dawn Holla, 2022. "Fiscal Stimulus for an Inclusive, Green and Forward-Looking Recovery, Leveraging the SDG Agenda: An Assessment for Pakistan," MPDD Working Paper Series WP/22/01, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP).
    • Handle: RePEc:unt:wpmpdd:wp/22/01
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    File URL: https://www.unescap.org/kp/2021/mpfd-working-paper-securing-green-development-can-asia-pacific-central-banks-and-financial
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    More about this item

    Keywords

    Building Back Better; Fiscal Stimulus; Inclusive; Green; Forward-Looking; Digital Transformation; COVID-19 Recovery; SDGs; Fiscal Space; Macroeconomic Model;
    All these keywords.

    JEL classification:

    • C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
    • E00 - Macroeconomics and Monetary Economics - - General - - - General
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • O23 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development

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