Policymakers presently face a quandary in relation to the COVID-19 response on whether to continue with the current constraints (to reduce mortality and morbidity costs) or to relax the containment measures (to reduce the socio-economic costs). The trade-offs between the two types of costs, can be managed with proper government policies for managing the disease as well as for managing the adverse effects to the economy due to the disease. In the long-run, the challenge for the government will be to strengthen institutions and expertise in the country so that the socio-economic costs of disasters such as the pandemic are minimised.
This report, prepared under CPD's flagship programme titled Independent Review of Bangladesh Development (IRBD), seeks to address the aforesaid questions in the context of Bangladesh. The present report, which is the second instalment of the State of the Bangladesh Economy in FY2019, also seeks to relate the economic growth narrative with the progress in macroeconomic variables. Correspondence and consistency between the growth trajectory and the progress in macroeconomic correlates are critically important for economic growth's effectiveness, reliability and sustainability. Along with this, macroeconomic policy is also pertinent for economic growth and development. For example, capital accumulation in the form of private investment is a key factor for economic growth. Sectoral policies including fiscal and monetary policies and sound financial sector management have important ramifications for private investment. Similarly, development of human capital, an important driver of economic growth, will call for adequate and efficient use of public resources. Progressive fiscal policy plays an important role in ensuring that the outcome of growth is distributionally fair. As was noted above, trade and external sector policies also drive growth outcomes. Taking cue from the above, the present report tracks development in some key areas of macroeconomic management to have a deeper understanding of a number of important growth drivers of Bangladesh. In connection with the above, it may be recalled that, the present government was sworn in January, 2019. The ruling party, Bangladesh Awami League, had put forward several pledges as regards macroeconomic management in its election manifesto of 2018.
The short note on the 2019 President's Budget attempts to assess the proposed shift from obligation-based to cash-based budgeting and its implications on the 2019 proposed national budget. In the process, it aims to inform policy deliberations on Senate Bill 1761 (formerly Senate Bill 1450), otherwise known as the Budget Reform Bill, by discussing the concept of cash-based budgeting with focus on its advantages and disadvantages and also, its implications on the 2019 proposed national budget and on government operations and practices. It also examines the past disbursement performance of the national government as well as the factors affecting their performance. The note argues for the need to reconsider DBM's initiative to shift from obligation-based to annual cash-based budget scheme in view of the perennial issues that government agencies/units have been facing.
The Sustainable Development Policy Institute (SPDI) provides the global sustainable development community with representation from Pakistan as well as South Asia as a whole. This quarterly publication provides Research and News bulletins on current events affecting Pakistan and surrounding South Asian countries.
Following the recent political turmoil in Papua New Guinea, the new prime minister James Marape signaled a shift in its foreign policy away from traditional partners to re-engage Southeast Asia. How can ASEAN help PNG develop its national capacity, such as in disaster preparedness?
This country diagnostics assessment seeks to strengthen financial preparedness for disasters in Nepal, focusing on insurance and other risk transfer instruments. It explores the current application of disaster risk financing solutions by the government, businesses, and individual households; related demand and supply constraints; and opportunities for improvement. The assessment forms one of a series of country diagnostics undertaken using a common methodology to determine the state of the enabling environment for disaster risk financing.
One of the most discussed issues of modern times is that of problems related to the scarcity of funds in dealing with the increasing catastrophic events due to volatile climatic conditions. Disaster Risk Resilience (DRR) can be interpreted as global policies working for improving disaster risk reduction and building efforts for resilience worldwide. The report analyses the applicability of popular instruments for emerging economies, the role of the private sector, and challenges to implementation of resilience framework. The Sendai Framework for Disaster Risk reduction (SFDRR) is the guiding principle for disaster risk reduction policies and efforts to improve resilience worldwide. The SFDRR synergises risk reduction efforts with sustainable development goals. Our report links global efforts for disaster risk reduction with resilient infrastructure. With the increased frequency of disasters, the economic burden of the states is rising not just with respect to 'build back better', but also regarding creation of resilience. Infrastructure network and asset creation have to be seen in the context of efforts to combat climate change, reduce disaster risk, and promote sustainable development. Infrastructure creation should account for climate and disaster resilience (OECD, 2018). Hence this report tries to compile a set of problems and preventive measures surrounding disasters in India.
Since government budgets are the most tangible aspect of public policy it is important for all stakeholders – outside and also within government – to be able to understand and analyze them, in order to assess the direction of policy and the quality of policy implementation. This especially applies to such policy areas as local infrastructure and service delivery which depend critically on the level and quality of public spending. For many years in Myanmar, budgets and the decisions on what to spend money on have been shrouded in mystery, with budgets not necessarily serving the population effectively or equitably. A starting point for ensuring the success of reforms to planning and budgeting processes requires that policy-makers, political actors, donors, civil society, and other stakeholders understand budget processes and outcomes, and have evidence with which to assess the impacts of reforms. Both the need and the opportunities for greater scrutiny of budgets have become much greater in recent years. The creation of elected state and region governments with their own budgets under the 2008 Constitution was a highly significant step for Myanmar. Since their creation, state/region governments' budgets have almost tripled in size, and these governments are exercising increasing discretion in how that money is used. The need to strengthen budgetary decision-making has also been recognized by the Union government in recent years. The NLD has embraced not only "bottom-up" planning, whereby an increasing proportion of budget spending is based on planning proposals identified at the local township level, but has also placed much emphasis on budget transparency.
From the second half of 2014, Azerbaijani public debt increased considerably along with several new challenges facing the domestic economy. During this period, the ratio of foreign debt to GDP rose from 8.6% (01.01.2015) to 22.8% (01.06.2018). The increase was 3.4 billion US dollars in nominal terms. At the beginning of 2018, Azerbaijan's public debt amounted to 10 billion 100 million US dollars, while the value of loans taken with state guarantees reached 12 billion 682 million US dollars, raising the ratio of debt to GDP to 55%. The increase in the debt burden, particularly external debt liabilities, has caused concern both in the local community and in the government. Specifically, the deterioration of the financial situation of publicly-funded state institutions has raised the likelihood that the debt burden on this category will turn into a fiscal burden. As a result, the "Medium and long-term strategy for public debt management in the Republic of Azerbaijan" was approved on 24.08.2018.
This publication helps guide investment planning and financing across key urban infrastructure sectors of Azerbaijan to improve the performance of cities—with a focus on economy, equity, and environment. The National Urban Assessment for Azerbaijan is among a series prepared by the Asian Development Bank for selected developing countries under its Urban Operational Plan 2012–2020.
Rapid economic growth in Asia has been going hand in hand with increased savings. However, many Asians still lack access to bank accounts. Another problem is that domestic savings are often invested abroad, not domestically. An improved mobilizing of domestic financial resources is therefore crucial to secure funding for the continuation of Asia's growth. Asia thus urgently needs to explore new strategies to improve financial access. One important option is postal financial inclusion. This volume explains the benefits and needs of postal financial inclusion in Asia, presents different strategies of postal financial inclusion ranging from a simple model of postal savings to full-fledged banking services, assesses national regulations needed to expand postal financial inclusion, studies the challenges and opportunities arising from new technologies, and derives policy recommendations that are relevant to developing Asia in terms of promoting postal financial inclusion in the region.
Tax and Development: Challenges in Asia and the Pacific is an anthology by contributors who have been involved in the activities of the Asian Development Bank (ADB) and the ADB Institute on fiscal policy and taxation in various capacities. While the contributors have different backgrounds, they have worked for one common cause, namely, the development of the Asia and Pacific region with respect to fiscal policy and taxation. The editors believe that this collaborative work provides important insights about taxation and development in Asia and the Pacific.
Indebtedness has been one of the main problems on which the Government of Georgia (GoG) has been focusing recently. To reduce the level of indebtedness in the country and to protect borrowers' rights, the GoG has adopted several laws and regulations. We have highlighted the following four GoG initiatives in this report.
In his first few days in office, the newly appointed Prime Minister of Georgia, Mamuka Bakhtadze, announced several reforms and initiatives such as reducing bureaucratic costs and introducing the concept of a small government. In Georgian politics, the public is accustomed to hearing such promises in election campaigns rather during the everyday running of government. Therefore, this ought to be viewed as a positive development. One of the most ambitious initiatives put forward by Bakhtadze was a promise to decrease governmental expenses, setting the cap at 3.9% of Georgian GDP.
This paper sets out to systematically assess urban citizens' tax attitudes in Myanmar. It focuses on three of the most important taxes in Myanmar: income tax, commercial tax, and property tax. Income and commercial taxes are the biggest sources of tax revenue, and property tax is widespread and salient. The study is restricted to citizens living in cities, where exposure to these taxes is greatest. The paper relies on data from the 2017 City Life Survey undertaken by The Asia Foundation in partnership with the Yangon School of Political Science as part of the Myanmar Strategic Support Program (MSSP). The City Life Survey is the first of its kind in Myanmar, tracking public perceptions and lived experiences of urban life.
