dc.contributor.author	World Bank
dc.date.accessioned	2025-03-03T18:17:53Z
dc.date.available	2025-03-03T18:17:53Z
dc.date.issued	2025-04-23
dc.description.abstract	Growth prospects for South Asia have dimmed. The global economic environment has become more challenging and is a source of heightened downside risks. After a decade of repeated disruptions, South Asia’s buffers to cushion new shocks are slim. Tackling some of its greatest inefficiencies and vulnerabilities could help South Asia navigate this unusually uncertain outlook: unproductive agricultural sectors, dependence on energy imports, pressures from rising global temperatures, and fragile fiscal positions. For most South Asian countries, increased revenue mobilization is a prerequisite for strengthening fiscal positions. Even taking into account the particular challenges of collecting taxes in South Asian economies—such as widespread informal economic activity and large agriculture sectors—South Asian economies face larger tax gaps than the average emerging market and developing economy (EMDE). This suggests the need for improved tax policy and administration. Until fiscal positions have strengthened, the burden of climate adaptation will disproportionately fall on the private sector. If allowed sufficient flexibility, private sector adaptation could offset about one-third of the likely climate damage by 2050. This may, however, require governments to remove obstacles that prevent workers and firms from moving across locations and activities. As growth prospects dim, the challenge grows to create jobs for South Asia’s rapidly expanding working-age population. South Asia’s large diasporas could become a source of strength if their knowledge, networks, and other resources can be better tapped for investment and trade.	en
dc.identifier.doi	10.1596/978-1-4648-2230-8
dc.identifier.doi	https://doi.org/10.1596/42891
dc.identifier.isbn	978-1-4648-2230-8
dc.identifier.uri	https://hdl.handle.net/10986/42891
dc.language.iso	en_US
dc.publisher	Washington, DC: World Bank
dc.rights	CC BY 3.0 IGO
dc.rights.holder	World Bank, Washington, DC
dc.rights.uri	https://creativecommons.org/licenses/by/3.0/igo/
dc.scholar.doi	10.1596/978-1-4648-2230-8
dc.scholar.isbn	978-1-4648-2230-8
dc.subject	SOUTH ASIA’S ECONOMIC GROWTH
dc.subject	CLIMATE ADAPTATION
dc.subject	CLIMATE CHANGE
dc.subject	MIGRATION
dc.subject	REVENUE MOBILIZATION
dc.subject	TAX REVENUE
dc.subject	EMPLOYMENT
dc.title	South Asia Development Update, April 2025: Taxing Times	en
dc.type	Serial
dspace.entity.type	Publication
okr.date.doiregistration	2025-04-24T02:19:31.640591Z
okr.region.geographical	South Asia
okr.topic	Public Sector Development
okr.topic	Macroeconomics and Economic Growth
okr.topic	International Economics and Trade
okr.unit	SARVP

Publication: South Asia Development Update, April 2025: Taxing Times

Files

Original bundle

License bundle

Collections

Publication:
South Asia Development Update, April 2025: Taxing Times