Tax revenue trends, 1990-2018

Financing the development agenda of Latin America and the Caribbean (LAC) and its achievement of the Sustainable Development Goals requires a step change in domestic resource mobilisation (OECD et al., 2019). At the same time as higher levels of revenue generation are required to meet long-term objectives, they are also needed to address urgent demands from citizens across the region to enhance the provision of public goods and mitigate high levels of vulnerability, particularly in the labour market. Fiscal policy also has an important role to play in catalysing inclusive economic growth in the region. These imperatives reflect the multi-dimensional nature of development and underline the need for sustainable, comprehensive policies. This need lies at the heart of the Development in Transition (DiT) agenda as led by the European Commission, with the support of the OECD and its Development Centre, and the Economic Commission for Latin America and the Caribbean (ECLAC).