Once the social protection system (the “shock”) is introduced, the model converges to a solution by finding a new set of prices and allocation of goods and factors such that the economy is in an equilibrium again, governed by the economic relationships as specified in the system of equations. [...] The decision to implement a series of regressive tax reforms in 2019 as well as the economic crisis resulting from measures introduced to contain the spread of the COVID-19 virus in 2020 (this included the closure of domestic businesses and the reduced global demand for exported goods) are two factors which particularly contributed to falling revenues. [...] Further, a significant proportion of the older population are already living on low incomes, with the proportion of the population living on US$3.20 (PPP) or less per day estimated to be the second highest after children aged 0-18 years.70 The rapidly ageing population and the high incidence of poverty in old age underscores the need to ensure that older persons receive appropriate support to acti. [...] This decline in the wages of workers is sharper in the public sector compared to the private sector and the reduction in the wages of female workers as they age in the public sector is more significant compared to those of their male counterparts.73 Working into old age can bring challenges when people become frailer and more prone to disability and can drastically undermine the quality of life af. [...] In 2016, it ratified the United Nations Convention for the Rights of Persons with Disabilities (UN CRPD) which signifies an important step in the progression towards a rights-based approach to social protection in Sri Lanka, as it ensures accountability of the Government to prepare legislation in line with the UN CRPD.80 Further, the 2nd National Action Plan 2019-2021 includes the formulation of a.
- Pages
- 95
- Published in
- Kenya
