Bangladesh has made substantial progress in strengthening macroeconomic conditions and structural policies. Strong vigilance, guided by adherence to programmed deficit targets, is needed, however. The strengthening of debt management practices now under way will reinforce debt sustainability....

New Zealand’s economy continued to grow at a moderate rate, in part reflecting the effects of the recent drought and inflation. The macroeconomic policy has been framed to absorb adverse shocks with flexible exchange rates to serve as buffer. The planned pace of deficit reduction is balanced...

The paper discusses the economic developments and policies in Sri Lanka in recent years. Substantial adjustments in energy prices and operational and financial reforms have helped to improve the performance of state owned enterprises (SOEs) and have reduced the burden on the budget and the...

The Philippines’ macroeconomic fundamentals have improved considerably during the past decade. However, new macrofinancial challenges are emerging. The economy is continuing to adjust to the large persistent inflows from abroad. Transmission of domestic policy interest rates has been weakened...

This article is an empirical analysis on tax collections in the Philippines. The tax system is characterized by a rule of tax incentives provided by 13 investment agencies. Tax collections showed regular growth. The GDP ratio increased from 12.1 percent (2009) to 12.8 percent (2012), but the...

Growth in the Asia-Pacific region shows signs of improving as extreme risks emanating from advanced economies have receded and domestic demand remains resilient, supported by relatively easy financial conditions and robust labor markets. A small and gradual pick-up in growth to over 53⁄4...

Fiscal performance has been broadly in line with program targets. As a result, the current account deficit has narrowed, reserves have increased significantly, and headline inflation is under control. However, implementation of structural benchmarks has lagged, necessitating sharper focus and...

India’s economy has slowed substantially before and after the global financial crisis. The economy is in a weaker position than before the crisis. With investment particularly hard-hit, potential GDP is likely to be lower than estimated. Inflation is constraining the room for monetary policy...

The Federated States of Micronesia (FSM) is highly dependent on external aid. Following a recession in FY2006–08, the FSM economy has grown by 2–21⁄2 percent for FY2010 and FY2011. The economy remains dependent on the large public sector, although the fisheries and agriculture sectors have...

Despite the global slowdown, Cambodia’s economy has been holding up, driven by resilient exports and tourism and a strong real estate recovery. Fiscal policy has remained anchored in rebuilding government deposits and maintaining long-term fiscal debt sustainability, while providing adequate...