Social Protection Spotlight - Financing gaps in social protection:

The amount required to close the financing gap in social The global and regional estimates presented in this brief protection has increased by approximately 30 per cent are based on calculating the costs and remaining since the onset of the COVID-19 crisis. [...] Social Protection Spotlight 2 Financing gaps in social protection: Global estimates and strategies for developing countries in light of the COVID-19 crisis and beyond Introduction challenge that needs to be addressed in order to realize the human right to social security and achieve Even before the COVID-19 crisis, it was clear that the SDG targets 1.3 and 3.81. [...] are linked to significant financing gaps that have been To calculate the financing gaps in social protection for further exacerbated by the COVID-19 pandemic, which the 134 countries covered in the study, the following has both increased the urgent demand for social steps were followed:2 protection and eroded government resources by (a) A set of benefits that can constitute a social diminishing ta. [...] Figure 1: Incremental financing needs for progressively closing the social protection coverage gap, 2020–2030 (billions of US$ and percentage of GDP) Note: The higher levels of incremental financing needs in 2020 and 2021 reflect the impact of the COVID-19 crisis on the level of spending on social protection and lower GDP growth rates in those years. [...] In international social security standards in order to reality, the share of disbursed ODA allocated to social ensure the adequacy of social protection and its protection represented a mere 0.0047 per cent of the sustainable, efficient and equitable financing (ILO gross national income of donor countries in 2017.