Publication:
Global Social Protection Responses to Inflation: Living Paper, v.5

Loading...
Thumbnail Image
Date
2023-06-30
ISSN
Published
2023-06-30
Author(s)
Almenfi, Mohamed
Iyengar, Hrishikesh TMM
Okamura, Yuko
Urteaga, Emilio Raul
Valleriani, Giorgia
Aziz, Sheraz
Al Azim Bin Noruzi, Mohammad Farid
Chu, Margret
Abstract
Between December 2022 and May 2023, the number of social protection and other related measures announced or implemented in response to inflation rose by about 31%. The latest tally includes 1,333 responses across 178 economies. Overall, subsidies claim 33% of such measures and take four main forms (fuel, food, fertilizers, and various fee subsidies). Social assistance accounts for 31% of responses, 77% of which is provided in the form of cash transfers. Tax measures represent 19% of the global responses, and trade, active labor market policies and social insurance claim a share of 6% each. Based on planned coverage data from 116 economies, social protection programs intend to cover 1.94 billion people or about 25% of the world’s population. But so far, actual coverage shows that 303.5 million individuals, or about 4% of the global population, were reached (based on data from 36 economies). Next, based on expenditure data from 561 programs across 143 economies, a total of $1.01 trillion is being invested in social protection responses. This involves an average country spending of 1.06% of GDP. The average size of both social assistance and subsidy transfers represents slightly over a quarter (i.e., 27%) of the daily median income, while their average initial duration is 7.3 months. Almost one-fifth of the responses to inflation have been extended, and the average duration of such extensions is 8.5 months. Over half of social assistance transfers are new (56%) and are provided on a one-off basis (47%).
Link to Data Set
Citation
Almenfi, Mohamed; Gentilini, Ugo; Iyengar, Hrishikesh TMM; Okamura, Yuko; Urteaga, Emilio Raul; Valleriani, Giorgia; Aziz, Sheraz; Al Azim Bin Noruzi, Mohammad Farid; Chu, Margret. 2023. Global Social Protection Responses to Inflation: Living Paper, v.5. Social Protection & Jobs Discussion Paper Series. © World Bank, Washington, DC. http://hdl.handle.net/10986/37441 License: CC BY-NC 3.0 IGO.
Report Series
Other publications in this report series
Journal
Journal Volume
Journal Issue
Associated URLs
Associated content
Citations