Australia, Japan, Korea, and New Zealand did relatively well in addressing the COVID-19 epidemic and limiting the first wave of the virus, according to Health at a Glance Asia/Pacific 2020, the OECD’s first analysis of the impact of COVID-19 on health systems, as well as responses, of countries across the Asia-Pacific. . 70896

Improved digital connectivity and skills have helped many countries to cope with the health and economic crisis from COVID-19. Yet the pandemic underscores the need to help people and firms by closing the gaps in access to fast and reliable internet between and within countries, the OECD’s latest Digital Economy Outlook reveals.

Governments should continue providing support to the philanthropic sector while taking steps to safeguard tax systems and ensuring that philanthropic activities align with the public interest, according to a new report, Taxation and Philanthropy. The non-profit sector represents as much as 5% of GDP in many countries, the report points out.

The COVID-19 crisis has exposed major weaknesses in our economies that can only be fixed through greater global co-operation and strong, targeted policy action, according to an OECD report, New Horizons, presented to the G20 Leaders Summit 21-22 November.

Despite a sharp fall of 10.6% in real GDP growth per capita in the OECD area in Q2 2020, real household income per capita actually increased by 5.3%, reflecting government support measures in response to the coronavirus crisis. The resulting positive gap of 15.1 percentage points was the largest on record.

Developing countries face a shortfall of USD 1.7 trillion in the financing they need to stay on track for the 2030 Sustainable Development Goals (SDGs), the Global Outlook on Financing for Sustainable Development warns. As well as a gap in public spending, the report points to a drop in private finance from foreign investment and remittances.