With the COVID-19 outbreak in 2020, almost all the ASEAN economies have provided large fiscal stimuli as a quick response to mitigate the impact of the pandemic. This has left many ASEAN economies with large negative fiscal balances, and significant expansion in government debt. The International Monetary Fund’s Fiscal Monitor (2021) provides the latest country-specific database of 238 countries in terms of key fiscal variables to provide public finance developments, fiscal implications of the crisis and medium-term fiscal projections.
