Despite strong evidence that social protection is a key driver of inclusive socioeconomic development, countries in Asia and the Pacific on average only spend 8.2% of gross domestic product (GDP) on social protection.
These measures underscore the critical role of social protection in maintaining economic stability during shocks and crises.
By recognizing social protection as an essential investment, governments can build the necessary fiscal space to support these critical systems.
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Ashoka, a global platform for social innovation, introduced the Arab World Social Entrepreneurship Programme (ASEP) to support local social entrepreneurs in scaling up their operations in three key areas – healthcare, environment and women participation for inclusive growth.