The spread and severity of the COVID-19 pandemic continues to accelerate. Fiscal policy in countries around the world needs to respond to be able to combat the health and economic impacts of COVID-19. As countries are ramping up efforts to slow the spread of COVID-19 and raise the capacity of health care systems to treat affected patients, the global economy is slowing down. This report provides guidance to country economists and teams for assessing fiscal policy measures that fit country circumstances. Click here to view the full report.
This report mainly delves into the budgets and the governments' key fiscal policies for the year 2020 in the selected Asian countries: Cambodia, Indonesia, Korea, Malaysia, Myanmar, the Philippines, Thailand, and Vietnam. The report was prepared based on the initial 2020 Budgets approved before the outbreak of COVID-19, relevant documents published by each country, and the information from the PEMNA Budget Community of Practice members, local news articles, and the publications by the international organizations. The report was published by the Korea Institute of Public Finance in July 2020.
The annual financial statement is somewhat challenging to understand for ordinary citizens. This financial statement brief, co-authored by the Korea Ministry of Economy and Finance and the Korea Public Finance Information Service, aims to explain how money was raised and spent in 2019 presented in an easy-to-read format, enabling citizens to take part in informed participation about government financial activities and fiscal integrity.
The sudden spread of the novel coronavirus disease (COVID-19) has severely affected the global economy. With the fast-changing environment, various fiscal measures have been implemented to tackle and mitigate the impacts of the pandemic. The Korea Institute of Public Finance (KIPF) has recently published a report titled “Fiscal Responses to COVID-19 in Asia,” covering impacts of the pandemic in fourteen Asian countries and their government’s key fiscal responses. The report was prepared based on the data from international organizations, the results of the PEMNA Budget Community of Practice (B-CoP) Member Survey, and information from the recent KIPF study. This document presents the main findings of the report “Fiscal Responses to COVID-19 in Asia.”
Abstract Faced with decreasing revenues, constrained access to financial markets and large emergency spending needs, governments shohuld adopt a multipronged approach to cash management to ensure there is adequate liquidity to meet their payment obligations. The full report is available at: https://www.imf.org/en/Publications/SPROLLs/covid19-special-notes