Asia Pacific round-up: China to cap local government debt, and more

2 Oct 14

A round-up of recent public finance stories from the Asia Pacific you might have missed.

3 October 2014

A round-up of recent public finance stories from Asia Pacific you might have missed.

China’s central administration will impose hard caps on local government borrowing, its boldest move yet to control financial risks from an explosive rise in regional debt. (The Financial Times)

Malaysia raises fuel prices as PM seeks to narrow deficit

Malaysia raised fuel prices for the first time in more than a year as Prime Minister Najib Razak seeks to narrow the budget deficit. (Bloomberg)

Hike public spending on healthcare, says India president

The President of India Pranab Mukherjee has stressed the need for a holistic healthcare system which would be accessible, affordable and effective universally. (The New Indian Express)

Risks to 'Abenomics' growing, whether Japan PM raises tax or not

FEATURE: If history is a guide, a string of disappointing economic reports in Japan would seem to argue against raising the country’s sales tax again. But the risks for ‘Abenomics’ are increasing whatever Prime Minister Shinzo Abe decides to do. (Reuters)

Thailand approves $11bn measures to lift economic growth

Thailand's military government approved plans for stimulus measures worth a combined 364 billion baht ($11.2bn) on Wednesday in a bid to revive an economy laid low by months of political unrest. (Reuters)

Australia: Tony Abbott confirms government will ‘restructure' budget measures

The government is prepared to concede defeat on some of its controversial welfare changes with a likely restructure of its social services bills, the prime minister has signalled. (The Guardian)