News

APR News



IMF Executive Board Concludes 2018 Article IV Consultation with India

On July 18, 2018, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with India.
Stability-oriented macroeconomic policies and progress on structural reforms continue to bear fruit. Following disruptions related to the November 2016 currency exchange initiative and the July 2017 goods and service tax (GST) rollout, growth slowed to 6.7 percent in FY2017/18, but a recovery is underway led by an investment pickup.

Read more...


IMF Executive Board Concludes 2018 Article IV Consultation with India

On July 18, 2018, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with India.
Stability-oriented macroeconomic policies and progress on structural reforms continue to bear fruit. Following disruptions related to the November 2016 currency exchange initiative and the July 2017 goods and service tax (GST) rollout, growth slowed to 6.7 percent in FY2017/18, but a recovery is underway led by an investment pickup.

Read more...


Russia–ASEAN meeting

The Russia–ASEAN meeting was held in Singapore on 2 August 2018. Foreign Minister Sergey Lavrov participated in the meeting from the Russian side.

Read more...


ASEAN Business Incubator Network convenes first project meeting

Close to a hundred representatives from the region’s technology business incubators and start-ups convened at the 1st meeting of the ASEAN Business Incubator Network (ABINet) Project on 2-3 August 2018 in Jakarta.
Other representatives from Indonesian Research, Technology, and Higher Education Ministry and Communications and Information Technology Ministry also attended this meeting which was hosted by the Indonesian Cooperatives and Small and Medium Enterprises (SMEs) Ministry.
The ABINet project is an initiative of the ASEAN Coordinating Committee on Micro, Small and Medium Enterprises supported by the Government of Japan through the Japan-ASEAN Integration Fund.

Read more...


Kazakhstan to host WTO’s next Ministerial Conference

WTO members have accepted Kazakhstan’s invitation to host, in Astana, the organization’s Twelfth Ministerial Conference (MC12) to be held in 2020. The decision was taken by consensus at the General Council meeting on 26 July 2018 and marks the first time a Ministerial Conference is to be organized in Central Asia.
The conference will be held in June 2020 with exact dates to be determined. It will be attended by trade ministers and other senior officials from the organization’s 164 members.
Kazakhstan joined the WTO in 2015.

Read more...



The fifth Regional Comprehensive Economic Partnership (RCEP) intersessional ministerial meeting

The Ministers from the 16 RCEP Participating Countries (RPCs) attended the 5th RCEP Intersessional Ministerial Meeting held on 1 July 2018 in Tokyo, Japan. The Ministers discussed the developments since the 4th RCEP Intersessional Ministerial Meeting on 3 March 2018 in Singapore, including the outcomes of the 22nd round of negotiations held on 28 April-8 May 2018 also in Singapore; the intersessional meetings of selected working groups and sub-working groups; as well as the 4th RCEP Intersessional TNC and Related Meetings held on 25-29 June 2018 in Tokyo, Japan.

Read more...


Fiscal measures on the way to help small businesses

The Chinese government will roll out a series of incentives to make financing more accessible and affordable for small and micro businesses to promote cost-cutting in the real economy, the State Council’s executive meeting chaired by Premier Li Keqiang decided on June 20.
In China, SMBs contributed to 80 percent of employment, some 70 percent of patent ownership, over 60 percent of GDP and more than 50 percent of tax revenue, China’s central bank Governor Yi Gang said last week.
The prudent and neutral monetary policy will continue to be in place, and the government will work to keep liquidity sufficient and appropriate, maintain financial stability, strengthen policy coordination to boost market confidence and ensure the economy performs within a reasonable range.
The meeting approved a series of fiscal, tax and financial incentives. The volume of re-financing and re-discounts for small and micro businesses, and for rural areas, agriculture and farmers will be raised. The re-financing interest rates for small and micro businesses will be lowered. Evaluation for financial institutions will be improved to make sure that businesses with a credit quota of 10 million yuan and below can enjoy faster year-on-year loan growth than other types of credit recipients.
Between Sept 1 this year and the end of 2020, the credit quota for small and micro businesses with loans that are eligible for VAT exemptions on interest revenue will be raised from 1 million to 5 million yuan. Meanwhile, the state financing guaranty fund will cover no less than 80 percent of the financing guarantee for small and micro businesses.

Read more...


Thailand's Economic Outlook in Six Charts

Thailand’s economic outlook is improving. Growth is estimated at 3.9 percent in 2017—the fastest pace on an annual basis since 2013—but it has yet to become broad-based. To secure growth that benefits everyone, the country will need to implement key reforms to raise domestic demand and prepare for the impact of an aging population, said the IMF in its latest annual assessment.

Read more...


Number of farmers, fishermen continues to fall in South Korea

The number of South Koreans in the agrofisheries sector is continuing to decrease amid a rapid aging and urbanization trend in the country, government data showed Friday.
Households engaging in the farming business totaled 1.04 million last year, down 2.5 percent from 1.07 million tallied a year ago, according to the data compiled by Statistics Korea.
The number of farmers also dropped 3 percent on-year to 2.42 million. In the fishing sector, the number of families fell 0.4 percent on-year to 53,000 last year, with the population retreating 3.1 percent to 122,000.
The families involved in the agriculture sector accounted for 5.3 percent of the country's total households in 2017, down from the previous year's 5.5 percent.

Read more...