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Unicef - A Recovery for All – Rethinking Socio-Economic Policies for Children and Poor Households

A Recovery for All PublicationChapter V of this study updates the 2010 analysis discussed below. It finds that developing countries responded initially to the crisis with expenditure stimulus, before accelerating cuts from 2010 onwards. Social spending was also increased somewhat in 2008-09, but may be falling in 2010-12. The study also discusses the way in which austerity measures such as targeting social protection spending more narrowly, removing subsidies, or reforming pension and health insurance systems to reduce benefits, can be pernicious for the poor. It concludes with a range of recommendations to expand fiscal space and support higher spending investments for a socially-responsive recovery.

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