Fiscal Stimulus for an Inclusive, Green and Forward-Looking Recovery, Leveraging the SDG Agenda: An Assessment for Pakistan

Sajid Amin Javed, Sara Zafar Cheema and Dawn Holla
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Sajid Amin Javed: Research Fellow, Sustainable Development Policy Institute (SDPI)
Sara Zafar Cheema: Research Consultant, Sustainable Development Policy Institute (SDPI)
Dawn Holla: Fellow, National Institute of Economic and Social Research (NIESR)

No WP/22/01, MPDD Working Paper Series from United Nations Economic and Social Commission for Asia and the Pacific (ESCAP)

Abstract: This study assesses Pakistan’s fiscal stimulus response to the COVID-19 pandemic, evaluating the degree to which it has managed to support a recovery, which is inclusive, green and forward-looking. In oreder to align recovery from COVID19 to SDGs agenda of the country, it is crucial for Pakistan to expand social protection, mainstream gender in all approaches and measures, roll-out a mass COVID-19 vaccination campaign, shift to green transport, cut fossil fuel subsidies and achieve an inclusive digital transformation. The study identifies the estimated costs and outlines financing options of these recommendations. Finally, the study simulates macroeconomic, social and environmental impacts of investment in people, green energy and digsital infarstrture on key macroeconomic indicators of the country which include public debt, GDP growth, (un)employment, poverty and CO2 emissions. Findings from these simulations, using the ESCAP’s Macroeconomic Model, support a strong economic and environment case for invesmnets recommended in this study.

Keywords: Building Back Better; Fiscal Stimulus; Inclusive; Green; Forward-Looking; Digital Transformation; COVID-19 Recovery; SDGs; Fiscal Space; Macroeconomic Model (search for similar items in EconPapers)
JEL-codes: C82 E00 E60 O23 Q01 (search for similar items in EconPapers)
Date: 2022-02
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