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Reaching the marginalized: EFA global monitoring report, 2010; 2010

Reaching the marginalized: EFA global monitoring report, 2010; 2010

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EDUCATION AT RISK: THE IMPACT OF THE FINANCIAL CRISISDouble jeopardy: food prices and financial crisis12Sub-Saharan Africa12Middle East101088GDP growth rate (%)642April 2008July 2009GDP growth rate (%)642April 2008July 20090-22007 2008 20090-22007 2008 2009-4-412Developing Asia12Latin America and <strong>the</strong> Caribbean10108April 20088GDP growth rate (%)642July 2009GDP growth rate (%)642April 20080-22007 2008 20090-22007 2008 2009July 2009-4-4Figure 1.2: Economic growth matters for education financingPrimary education expenditure in sub-Saharan Africa between 2000 and 2005,growth decomposition30Figure 1.3: Education financing in sub-Saharan Africa could sufferfrom slower economic growthEstimated forgone income for education due to <strong>the</strong> crisis in 2009 and <strong>2010</strong>1250Pre-crisis projectionsExplained variation (%)20151050Constant PPP 2006 US$ billions-1-2-3-4Primary education spendingTotal education spending-5-5-10Totalvariationin spendingChange dueto GDPgrowthChange dueto revenuecollectionSources: Pôle de Dakar (2002, 2004, 2005, 2007); UIS database.Change dueto educationbudgetallocationChange dueto primaryeducationbudgetallocation-62009 <strong>2010</strong>Notes: The shares of GDP devoted to education and primary education have beenconsidered constant and correspond to median shares in 2007 for both data. Forgone incomeis <strong>the</strong> difference between education spending estimated with pre-crisis projections and thatcalculated with <strong>the</strong> most recent post-crisis projections.Sources: IMF (2008, 2009g); UIS database.23

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