Governments across Asia have rolled out economic packages to boost their health infrastructure in order to curb the spread of COVID-19. Here’s a comparative analysis of the fiscal health measures to battle the pandemic.

The World Bank recently cautioned that South Asia faces its worst economic performance in 40 years due to the damages wrought by the COVID-19 pandemic. HealthLEADS looks at how major Asian economies have reacted to this unprecedented situation.

Looking at the health measures, Japan tops the list, spending the highest percentage of the economy on COVID-19 across Asia. The country, which managed to avoid the worst of the first wave of infections, announced a stimulus package worth USD 1.1 trillion, which includes USD 25.75 billion for developing preventive measures against the spread of the virus and strengthening treatment capacity.

India announced an emergency health fund of USD 2 billion, making up 0.1 percent of its GDP, for the treatment of COVID-19 patients and strengthening the medical infrastructure, testing facilities, and other essential equipment. Across the border, the Pakistan government announced a relief package worth USD 89 million – 0.03 percent of its GDP – earmarked for accelerated procurement of support for health.

The South Korean government, on the other hand, announced a budget of USD 1.7 billion (0.1 percent of GDP) to mitigate the impact of the pandemic in the peninsular nation.

Vietnam stands out in its efforts to limit the virus from spreading within its borders by acting quickly, despite the country’s large population and the border with China. In Malaysia, the federal government allocated around USD 350 million to the health ministry and designated more than 400 new sites as quarantine zones for the patients.

Given that Afghanistan is a heavily aid-reliant and import-dependent economy, it is difficult to predict how the country will be able to cope if severely affected by the virus. The healthcare system is certainly not prepared to deal with large numbers of patients.

While healthcare has been the primary focus of all responsive measures, governments have also looked to safeguard their economies. Relief packages and incentives for businesses, business owners, and workers also took a substantial toll on their GDPs. Health pandemics can occur just one time, but its economic aftermath can last a lifetime.

Japan injects more than 20 percent of its economy to help businesses and households to manage the economic impact of the virus. China, the country where the outbreak began, announced fiscal measures worth USD 594 billion (4.1 percent of GDP). However, specific data dedicated to health measures for the country were not available. In emerging and developing countries in Asia, Singapore’s stimulus comes to 19.7 percent of GDP, while India’s package accounts for 10 percent.