![]() Official sustainable development grants passed the $100 billion mark in 2020 and reached $118 billion in 2021. The COVID-19 pandemic reshaped development spending, driving significant increases in financial resources mobilized for developing countries from multiple sources. Moreover, net bilateral ODA flows to countries in Africa totalled $34 billion in 2022, representing a drop of 7.4% in real terms compared to 2021. However, total ODA as a percentage of GNI continues to remain below the 0.7% target, reaching 0.36% in 2022 compared to 0.31% in 2021. This is the highest growth rate in record, mainly due to domestic spending on refugees and aid for Ukraine. Net ODA flows amounted to $206 billion (current price in 2022, an increase of 15.3% in real terms compared to 2021). The overall average was about 66% among advanced economies and 60% among emerging market and developing economies in 2019, but sharply declined to about 52% in 2020 before rebounding to about 58% in 2021 for both groups of economies. The proportion of government expenditure funded by taxes has been stable within each region and worldwide has tended to converge. In addition, the average overall tax burden or revenue in the form of taxes was 26% of GDP among advanced economies and 17% of GDP amongst emerging market and developing economies. A major surge in concerted action is needed to ensure developing countries have access to the financing and technologies needed to accelerate SDG implementation.īased on 2021 data from approximately 130 economies, government revenue accounted for approximately 33% of GDP on average. Many developing countries are battling record inflation, rising interest rates and looming debt burdens, competing priorities, and limited fiscal space. ![]() Additionally, geopolitical tensions and the rise of nationalism in some parts of the world have made it more difficult to achieve international cooperation and coordination. However, funding for development remains a major challenge, particularly in lowincome countries. ![]() On the one hand, there have been some advances in areas such as development aid, remittances flows, and access to technology. Progress towards achieving SDG17 has been mixed. ![]()
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