As foreign aid budgets continue to shrink, “tax is going to be the linchpin of development finance,” according to Giulia Mascagni, executive director of the International Centre for Tax and Development.
While the decline in aid is concerning, aid was never going to be sufficient to fully finance the U.N. Sustainable Development Goals, she said during a Devex event on the sidelines of the Fourth International Conference on Financing for Development, or FfD4, in Sevilla, Spain.
In fact, tax revenues overtook aid as the primary source of development financing nearly two decades ago, she said.
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About the author
Rumbi Chakamba
Rumbi Chakamba is a Senior Editor at Devex based in Botswana, who has worked with regional and international publications including News Deeply, The Zambezian, Outriders Network, and Global Sisters Report. She holds a bachelor's degree in international relations from the University of South Africa.
