“But there are smart policy options available that can soften these tradeoffs – such as investing in testing and tracing capacity and durably expanding social protection to cover the poor and the informal sector.”
The report warns that without action on multiple fronts, the pandemic could reduce regional growth over the next decade by 1 percentage point per year, with the greatest impacts being felt by poor households, because of lower levels of access to healthcare, education, jobs, and finance.
School closures due to Covid-19 could result in a loss of 0.7 learning-adjusted years of schooling in EAP countries, according to analysis in the report. As a result, the average student in the region could face a reduction of 4 percent in expected earnings every year of their working lives.
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