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publicationOctober 10, 2023

Education Finance Watch 2023

Education finance watch

The Education Finance Watch (EFW) 2023 updates analyses on trends and patterns of education spending for the past ten years, up to 2021, the second year after the COVID-19 pandemic. As a special theme of this year’s volume, the EFW 2023 sheds light on changes in the school-age population and projects its fiscal implications for the upcoming ten years for selected countries.

The EFW 2023 finds that in 2021, low-income countries (LIC) increased year-on-year total education spending (a total of government, households, and official development assistance (ODA)) in real terms. This increase was driven by increased government spending, which reached 50 percent of total education spending, while ODA to LIC decreased in absolute and relative terms. Although the rise was notable, it was insufficient to close the learning gap sustained during the pandemic. Indeed, around the world, countries of all income levels are grappling with pandemic-induced learning loss.

The Education Finance Watch is a collaborative effort between the World Bank (WB), the Global Education Monitoring (GEM) Report, and the UNESCO Institute for Statistics (UIS). The EFW aims to provide an analysis of trends, patterns, and issues in education financing worldwide. The EFW uses various sources of education, economic, and financial data from the WB, UIS, the International Monetary Fund (IMF), and the Organizasion for Economic Co-operation and Development (OECD).

Explore Prior Education Finance Watch Reports from 2021 and 2022