PEMNA

2022 Synthesis Report on World Observatory on Subnational Government Finance and Investment (prepared by OECD and the United Cities and Local Government / UCLG Association, in collaboration with many Development Partners) includes both the systemic review of fiscal decentralization in 135 countries and the updates on the decentralization trends during and after COVID-19.

The annual financial statement is somewhat challenging to understand accounting terms and statistical data for ordinary citizens. This financial statement brief aims to explain how money was raised and spent in 2022 presented in an easy-to-read format, enabling citizens to take part in informed participation about government financial activities and fiscal integrity.

The report offers an analysis of budget trends in the education, health, and social assistance sectors for the period 2017-2021 in 21 countries, 4 in South Asia (Bangladesh, Nepal, Pakistan, Sri Lanka), 12 in East Asia (Cambodia, China, Indonesia, Lao PDR, Malaysia, Mongolia, Myanmar, Papua New Guinea, Philippines, Thailand, Timor-Leste, Vietnam), and 5 the Pacific (Fiji, Samoa, Solomon Islands, Tonga, Vanuatu).It indicates gaps that already existed before the pandemic, and yields various prioritization options for the social sectors in the national fiscal space. The report warns against the existing gaps in social sector spendinghealth, education, and social assistancewhich further deepened during COVID. If unaddressed, they can put at risk human capital development and potential for economic growth across the countries in Asia and the Pacific.The report is one of the results of the EU-UNICEF Public Finance Facility in South Asia and Southeast Asia, a solution-oriented instrument that supports governments policy and fiscal decisions to accelerate human development outcomes. It was launched in 2019 to respond to challenges and support the best possible use of social sector budgets. The four-year action covers seven countries in South and Southeast Asia: Cambodia, Lao PDR, Myanmar, Bangladesh, Nepal, Pakistan, and Sri Lanka, and aims to enhance the adequacy, effectiveness, and efficiency of social sector spending for childrens rights.Direct linksPublication:Where is the fiscal space for children? Review of social sector budgets in selected countries in South Asia, East Asia, and the Pacific Islandshttps://www.unicef.org/eap/media/13231/fileEU-UNICEF Op-Ed: Where is the Fiscal Space for Children?https://www.unicef.org/eap/stories/where-fiscal-space-childrenBrochure of the EU-UNICEF Public Finance Facility for South and Southeast Asiahttps://www.unicef.org/eap/media/13211/file

State-owned enterprises (SOEs) in Korea have played a vital role in the national economy and are instrumental in carrying out major national agenda. The increasing demands of citizens have placed significant pressure on SOEs to be efficient in their operations, to improve performance and service delivery, and to solve market discipline challenges. . The All Public Information In-One (ALIO) system, a Korean internet-based public disclosure system, is at the forefront of transparency and data collection.In the integrated disclosure context, the trend for environmental, social, and governance (ESG) has conferred greater significance on the social value and ESG items to address the climate crisis, and social and corporate governance issues. Enhanced ESG disclosure through ALIO is expected to facilitate ESG management efforts at SOEs and encourage private businesses to adopt ESG practices as well.This report provides an overview of the ALIO system and the integrated disclosure system and explains how integrated disclosure can assist SOEs in fulfilling their policy functions, promoting transparency, and improving the public monitoring function.