Developing countries wish to reach ODS by 2030
According to the International Monetary Fund, developing nations must strengthen their tax capacity to achieve what is expected
Countries must increase public spending in important sectors such as health, education and infrastructure to move towards the Sustainable Development Goals (SDG) in 2030, as stated by the International Monetary Fund (IMF).
Emerging market economies require an additional annual expenditure on average equivalent to 4 percentage points of GDP to achieve SDGs in 2030. For its part, the low-income developing country needs 15 percentage points of GDP.
An ambitious goal for many countries is to increase their tax ratio by 5 percentage points of GDP. The measure may require profound administrative, political and economic changes, in which the IMF can provide all the necessary support.
In less favored countries, extra tax revenue could finance a third of the total additional needs and leave a deficit of 0.3% of world GDP. It is pertinent to redouble efforts in order to reduce and eliminate this deficit. In turn, the efficiency of public spending must be increased, which can translate into significant savings and an orientation of public spending towards the areas most in need.
L.Sáenz
Source: Finanzas Digital
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