Tax and fiscal policies after the COVID-19 crisis

The COVID-19 pandemic resulted in a global health crisis and precipitated a sharp decline in economic activity that is without precedent in recent history. Thanks to swift and sustained policy actions, global GDP is now returning to pre-pandemic levels. The crisis has, however, caused a deterioration in public finances, adding to pre-existing long-term structural challenges. As countries seek to “build back better”, they have an opportunity to rethink their approach to public finances and develop fiscal strategies that can deliver inclusive and sustainable economic growth over the medium to long-term.