dc.contributor.author	World Bank
dc.date.accessioned	2023-03-29T17:28:47Z
dc.date.available	2023-03-29T17:28:47Z
dc.date.issued	2023-04-04
dc.description.abstract	South Asia’s outlook is shaped by both good and bad news in the global economy. Lower commodity prices, a strong recovery in the services sector, and reduced disruptions in value chains are aiding South Asia’s recovery but rising interest rates and uncertainty in financial markets are putting downward pressure on the region’s economies. Countries in South Asia, especially those with large external debt, face difficult tradeoffs as they respond to these pressures. Growth prospects have weakened, with large downside risks in most countries given limited fiscal space and depleting foreign reserves. Going forward, broad reform programs, including a sustainable fiscal outlook, are needed to put South Asia on a more robust and inclusive growth path. Inequality of opportunity, which is higher in South Asia than in other regions of the world, is both unfair and inefficient. Reducing inequality of opportunity and increasing economic mobility will help broaden countries’ tax base and boost support from the population for the critical reforms.
dc.identifier.doi	10.1596/978-1-4648-1980-3
dc.identifier.isbn	978-1-4648-1980-3 (electronic)
dc.identifier.uri	https://openknowledge.worldbank.org/handle/10986/39613
dc.language.iso	en_US
dc.publisher	World Bank, Washington, DC
dc.relation.ispartofseries	South Asia Economic Focus; Spring 2023
dc.rights	CC BY 3.0 IGO
dc.rights.uri	http://creativecommons.org/licenses/by/3.0/igo
dc.subject	FOOD AND ENERGY PRICES
dc.subject	INFLATION
dc.subject	RUSSIA-UKRAINE WAR
dc.subject	SOCIAL MOBILITY
dc.subject	INEQUALITY
dc.subject	FINANCIAL SECTOR VULNERABILITIES
dc.subject	MONETARY TIGHTENING
dc.subject	FISCAL CONSOLIDATION
dc.subject	INCLUSIVE GROWTH
dc.title	Expanding Opportunities: Toward Inclusive Growth
dc.type	Serial
dspace.entity.type	Publication
okr.doctype	Publications & Research::Publication
okr.guid	099061923180540870
okr.identifier.doi	10.1596/978-1-4648-1980-3
okr.language.supported	en
okr.region.administrative	South Asia
okr.region.geographical	South Asia
okr.topic	Macroeconomics and Economic Growth::Economic Growth
okr.topic	Macroeconomics and Economic Growth::Inflation
okr.topic	Macroeconomics and Economic Growth::Fiscal & Monetary Policy
okr.topic	Poverty Reduction::Achieving Shared Growth
okr.unit	SARCE

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Expanding Opportunities: Toward Inclusive Growth