South Asia faces long-standing fiscal challenges that have been compounded by the global shocks over the past three years. Even in the decade before the pandemic, South Asian countries collected around 19 percent of GDP in government revenue-one-quarter below revenue ratios in other emerging markets and developing economies (EMDEs). Growth and trade weakness over 2020-21 and import restrictions in 2022 further reduced revenue collection in South Asia. If history is any guide, the elections that are being held in 2023-24 in seven South Asian countries will add spending pressures. The region also has the highest government debt among all EMDE regions, at 86 percent of GDP on average in 2022. Although debt default risks may be mitigated by the high shares of domestic debt in the region, the higher interest rates and short maturities of domestic debt create additional fiscal burdens, and high shares of domestic debt risk crowding out private credit and investment. To restore and preserve fiscal sustainability, countries will need to improve revenue collection and spending efficiency and well-supported fiscal rules can help shore up fiscal positions. Robust output growth will be needed to improve debt sustainability over the longer term.

In this context, South Asian Network on Economic Modeling (SANEM) and World Bank will host a seminar titled “Fiscal challenges in South Asia” on 8 October 2023 from 10:00 AM to 12:00 PM at BRAC Centre Inn, Mohakhali, Dhaka. SANEM and the World Bank invite academicians, experts, development practitioners, policymakers, students and all interested individuals to participate in the event.

To participate in this event, kindly fill up the following google form:
https://forms.gle/5a3fidUPSQpBRHPs6

Details of the seminar will be informed through email to those registered.