Meeting Sustainable Development Goal (SDG) target 1.3 and achieving universal social protection
requires substantial additional investments in social protection benefits and their delivery. Recent
estimates suggest that developing countries need to invest an additional US $1.2 trillion per annum to
close the financing gap, which is 3.8 per cent of their GDP, while low-income countries would need to
invest an additional US $77.9 billion per annum, equivalent to 15.9 per cent of their GDP.
Adequate investment in public social protection systems, working synergistically with investments in
public health, education, and care services, requires fiscal space and an enabling macroeconomic