Recovering Growth : Rebuilding Dynamic Post‐COVID-19 Economies amid Fiscal Constraints

After its worst economic crisis in 100 years, Latin America and the Caribbean countries are emerging from the COVID‐19 pandemic. The need to recover dynamic, inclusive, and sustainable growth to redress both the legacy of the pandemic and long‐standing social needs has never been more acute. However...

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Main Author:	World Bank
Format:	Serial
Published:	Washington, DC: World Bank 2021
Subjects:	ECONOMIC UPDATE ECONOMIC OUTLOOK CORONAVIRUS COVID-19 ECONOMIC RECOVERY SPENDING EFFICIENCY EDUCATION PANDEMIC RESPONSE PUBLIC TRANSFERS DIGITAL INFRASTRUCTURE SUSTAINABLE ENERGY STRUCTURAL TRANSFORMATION
Online Access:	https://documents.worldbank.org/en/publication/documents-reports/documentdetail/599371633589832067/main-report http://hdl.handle.net/10986/36331

id	okr-10986-36331
recordtype	oai_dc
spelling	okr-10986-363312021-10-13T05:10:38Z Recovering Growth : Rebuilding Dynamic Post‐COVID-19 Economies amid Fiscal Constraints World Bank ECONOMIC UPDATE ECONOMIC OUTLOOK CORONAVIRUS COVID-19 ECONOMIC RECOVERY SPENDING EFFICIENCY EDUCATION PANDEMIC RESPONSE PUBLIC TRANSFERS DIGITAL INFRASTRUCTURE SUSTAINABLE ENERGY STRUCTURAL TRANSFORMATION After its worst economic crisis in 100 years, Latin America and the Caribbean countries are emerging from the COVID‐19 pandemic. The need to recover dynamic, inclusive, and sustainable growth to redress both the legacy of the pandemic and long‐standing social needs has never been more acute. However, despite progress in some areas, the region is facing a weaker recovery than expected given the favorable international tailwinds and is likely return to the low growth rates of the 2010s. Moreover, growth could be further slowed by both internal and external factors: the emergence of a new variant of the virus, a rise in international interest rates to combat global inflation, and high levels of debt in both the private and public sector. Beyond offering the current macroeconomic outlook of the region and the near‐term challenges it faces, this report explores three broad areas where growth‐advancing policies and reforms could be undertaken within a constrained fiscal context: mobilizing sources of revenue that appear to be growth-neutral; improving public spending efficiency to free up resources for other purposes; and reallocating spending to areas with highest growth and social impact. 2021-10-04T22:31:23Z 2021-10-04T22:31:23Z 2021-10-06 Serial https://documents.worldbank.org/en/publication/documents-reports/documentdetail/599371633589832067/main-report 978-1-4648-1806-6 http://hdl.handle.net/10986/36331 LAC Semiannual Report;October 2021 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC: World Bank Publications & Research Publications & Research :: Publication Latin America & Caribbean Caribbean Latin America
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
topic	ECONOMIC UPDATE ECONOMIC OUTLOOK CORONAVIRUS COVID-19 ECONOMIC RECOVERY SPENDING EFFICIENCY EDUCATION PANDEMIC RESPONSE PUBLIC TRANSFERS DIGITAL INFRASTRUCTURE SUSTAINABLE ENERGY STRUCTURAL TRANSFORMATION
spellingShingle	ECONOMIC UPDATE ECONOMIC OUTLOOK CORONAVIRUS COVID-19 ECONOMIC RECOVERY SPENDING EFFICIENCY EDUCATION PANDEMIC RESPONSE PUBLIC TRANSFERS DIGITAL INFRASTRUCTURE SUSTAINABLE ENERGY STRUCTURAL TRANSFORMATION World Bank Recovering Growth : Rebuilding Dynamic Post‐COVID-19 Economies amid Fiscal Constraints
geographic_facet	Latin America & Caribbean Caribbean Latin America
relation	LAC Semiannual Report;October 2021
description	After its worst economic crisis in 100 years, Latin America and the Caribbean countries are emerging from the COVID‐19 pandemic. The need to recover dynamic, inclusive, and sustainable growth to redress both the legacy of the pandemic and long‐standing social needs has never been more acute. However, despite progress in some areas, the region is facing a weaker recovery than expected given the favorable international tailwinds and is likely return to the low growth rates of the 2010s. Moreover, growth could be further slowed by both internal and external factors: the emergence of a new variant of the virus, a rise in international interest rates to combat global inflation, and high levels of debt in both the private and public sector. Beyond offering the current macroeconomic outlook of the region and the near‐term challenges it faces, this report explores three broad areas where growth‐advancing policies and reforms could be undertaken within a constrained fiscal context: mobilizing sources of revenue that appear to be growth-neutral; improving public spending efficiency to free up resources for other purposes; and reallocating spending to areas with highest growth and social impact.
format	Serial
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Recovering Growth : Rebuilding Dynamic Post‐COVID-19 Economies amid Fiscal Constraints
title_short	Recovering Growth : Rebuilding Dynamic Post‐COVID-19 Economies amid Fiscal Constraints
title_full	Recovering Growth : Rebuilding Dynamic Post‐COVID-19 Economies amid Fiscal Constraints
title_fullStr	Recovering Growth : Rebuilding Dynamic Post‐COVID-19 Economies amid Fiscal Constraints
title_full_unstemmed	Recovering Growth : Rebuilding Dynamic Post‐COVID-19 Economies amid Fiscal Constraints
title_sort	recovering growth : rebuilding dynamic post‐covid-19 economies amid fiscal constraints
publisher	Washington, DC: World Bank
publishDate	2021
url	https://documents.worldbank.org/en/publication/documents-reports/documentdetail/599371633589832067/main-report http://hdl.handle.net/10986/36331
_version_	1764485088506019840

Recovering Growth : Rebuilding Dynamic Post‐COVID-19 Economies amid Fiscal Constraints

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