as pandemic recedes
Estimated Growth in State Funded Education Spending 8%
5% 4% 3%
2%
7%
7%
4%
4% 2%
-4% -6% East Asia
-7% Latin America
-7% Middle East & North Africa
Pre-COVID Growth in Spending
Sub-Saharan Africa
Baseline 2020
-6% South Asia
Downside 2020
UNESCO: School Closures Caused by Covid-19 in Emerging Markets 100% 90% 80%
70% 60% 50% 40% 30% 20% 10% 0% Feb-20
Mar-20
Apr-20
Fully open
May-20
Jun-20
Partially open
Jul-20
Aug-20
Closed due to COVID-19
Sep-20
Oct-20
Academic break
Nov-20
Dec-20
as pandemic recedes