evidence: Government spending on education has become a priority action globally to meet the 2030 Sustainable Development Goal (SDG) of free, equitable, and quality primary and secondary education for all. Prior to the Covid-19 pandemic, governments in low and middle-income countries had increased education expenditures to approximately 4.45% of Gross Domestic Product (GDP) in conjunction with an increased share of education expenditures in overall government spending. Using panel data analysis, this chapter investigates the impact of education spending of 78 low and lower-middle income economies and 111 upper-middle and high-income countries on education outcomes at primary, secondary, and tertiary levels of schooling. The study finds that despite additional channels of external funding such as Official Development Assistance loans, it is government spending across all levels of educational enrollments, primary, secondary, and tertiary, that has had a greater impact on education outcomes. We find that government spending on education as a share of GDP has contributed the most toward achieving global development goals. [...] A World Bank study [17] on how the Covid-19 pandemic has affected on education financing reports that due to larger populations in low- and middle-income countries, the share of GDP spent on education is insufficient to achieve the improved quality of education.