East Asia and Pacific Economic Update October 2014

East Asia and Pacific Economic Update October 2014

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In China, growth will gradually moderate, reflecting intensified policy efforts to address financial vulnerabilities and structural constraints, and place the economy on a more sustainable growth path. In the rest of the region, growth will pick up, as exports firm in line with strengthening global activity, and the impact of domestic adjustment in large ASEAN countries eases. Significant uncertainties remain about the sustainability of the global recovery, and global financial conditions are likely to tighten. The short-term priority in several countries is to address the vulnerabilities and inefficiencies created by an extended period of loose financial conditions and fiscal stimulus. In China, the authorities need to strike a balance between containing growing risks from rising leverage and meeting the indicative growth targets. Over the longer term, the focus in most countries must be on structural reforms to enhance export competitiveness. The reporta€™s special section focuses on education a skills development; international migration; and the policy priorities for the Pacific Island Countries.Tax revenues 10 20 2007 2008 2009 2010 2011 2013 2012 a–sChina a–s Indonesia a–sMalaysia a–s Philippines a–sThailand ... 2014, and the 2014 budget firmed up plans to introduce a 6 percent goods and services tax beginning in April 2015.

Title:East Asia and Pacific Economic Update October 2014
Author: World Bank
Publisher:World Bank Publications - 2014-10-09

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