Balanced and inclusive fiscal policy packages will address the needs of the most vulnerable will assist Asian Pacific countries to undertake rapid assessments of the impact of the pandemic to estimate their fiscal needs, including by using the tools developed by UNCTAD GPM model. Next, the policy options will be provided with an analysis of their trade-offs and impacts, particularly to ensure that economic recovery measures are in line with the social and environmental goals of the 2030 Agenda.
Looking ahead into 2021, the ongoing effects of the pandemic continue to impact on countries and their economies. For the Pacific, with relatively vulnerable public health systems and geographical remoteness, Governments moved quickly to close borders in order to avoid large scale community transmission, potential collapse of health systems and most importantly to avoid any fatalities due to COVID-19.
Macroeconomic, fiscal and taxation policies that can be implemented as part of the response to the COVID-19 crisis.