Financing the Future: The Importance of Domestic Resource Mobilization (ADB Insight Full Episode)
Channel: Asian Development Bank
Date: 2021-12-09

When the coronavirus disease (COVID-19) pandemic struck, governments had to quickly respond to protect economies from the impacts of border closures and lockdowns. Public spending was at an all-time high. Aside from providing stimulus packages, governments also resorted to relaxing certain tax measures to keep businesses afloat during the pandemic.

These measures affected public finances, which now need to be recouped to support the economic recovery from the pandemic. This means finding additional tax revenues while addressing inefficiencies, without threatening the equitable economic recoveries.

ADB Director General Bruno Carrasco joins ADB Insight to discuss both the short- and long-term measures needed to properly implement domestic resource mobilization and how ADB is promoting cross-border cooperation to strengthen the framework for this effort.