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To achieve national and international education goals, many countries will need to invest more in their education systems. During the last decade, government education spending has increased steadily, but the Covid-19 pandemic has impacted public finances dramatically, and the prospects for maintaining these increases have deteriorated. But the education finance challenge is not only about mobilizing resources but also about improving the effectiveness of funding. Unfortunately, recent increases in public education spending have been associated with relatively small improvements in education outcomes.

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