Economic and social survey of Asia and the Pacific 2016: Year-end update
The main purpose of the Economic and Social Survey of Asia and the Pacific Year-End Update 2016 is to provide recommendations to policymakers, civil society and academia on the current macroeconomic situation and trends in the region.
This report shows that despite sluggish global growth, economic conditions in the Asia-Pacific region have somewhat stabilized in 2016 on the back of resilient domestic demand and an easing of financial conditions. However, labour market prospects seem weak while income inequality has been on the rise. Going forward, sustaining the region’s dynamism against weak external demand will require parallel progress on both productivity and inclusiveness fronts, supported by proactive fiscal policy and good governance.