Asia Pacific round-up: Asia rushes to lower rates, but maybe not fast enough, and more

8 Apr 15

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

Asia rushes to lower rates, but maybe not fast enough

Central banks across Asia are racing to cut interest rates, but they may not be doing it fast enough to stave off economic malaise. (New York Times)

China’s fiscal deficit makes sense

BLOG: China’s central government deficit is projected to be the largest in six years. The official government deficit was originally forecast to be around 2.3% of GDP, but the actual deficit will likely come close to 2.7% , according to Finance Minister Lou Jiwei. This is because China is committed to expanding its fiscal policy in the face of a domestic and global economic slowdown, as well it should be. (The Diplomat)

Australian coalition threatens taxpayer funded advertising blitz on pension changes 

Taxpayers appear set to bankroll new advertising on the Abbott government’s proposed pension changes to counter what the prime minister terms a ‘dishonest’ public campaign underway in South Australia. (The Guardian)

Modi’s budget slashes environmental funding for India

Environmentalists in India have expressed alarm over the new budget of the government of Prime Minister Narendra Modi, which they say heralds substantial cuts in environmental programmes and fails to address the country’s worsening pollution and vulnerability to climate change. (Reuters via Business Standard)

IMF cuts economic forecast for Bangladesh, citing political violence

The Bangladesh economy will grow by about 6%, less than previously forecast, in the year to end-June if political violence persists, the International Monetary Fund said on Tuesday. (Reuters via Daily Mail)

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