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Asian Development Outlook 2014 : Fiscal policy for inclusive growth

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  • Asian Development Outlook 2014
  • Asian Development Bank


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Title Asian Development Outlook 2014
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Sub Title

Fiscal policy for inclusive growth

Material Type Reports
Publisher

Manila:Asian Development Bank

Date 2014-04
Series Title; No Asian Development Outlook
ISBN 978-92-9254-452-2
Pages 311
Language English
File Type Link
Subject Economy < General
Holding Asian Development Bank

Abstract

Developing Asia’s gross domestic product (GDP) expanded steadily by 6.1% in 2013, the same pace as in the previous year. The major industrial economies—the US, euro area members, and Japan—grew by a collective 1.0% in 2013. The momentum is expected to quicken to 1.9% in 2014 and 2.2% in 2015. Output in the PRC grew by 7.7% in 2013, matching the performance of the previous year. However, growth is set to slow somewhat in the years ahead as policy promotes growth that is more equitable, sustainable, and balanced. Soft global commodity prices continue to lighten pressure on consumer prices, allowing inflation to ease to 3.4% in developing Asia. The region’s current account surplus has flattened, after falling continuously since its peak in 2007. Risks to the outlook have eased, and developing Asia can manage them. (The rest omitted)