ADB and APF Canada Invite Media to Attend Launch of the Asian Development Outlook 2014

VANCOUVER, BC - APRIL 16, 2014 —Stephen P. Groff, Vice President of Operations in East Asia, Southeast Asia, and the Pacific at the Asian Development Bank (ADB) will unveil findings of the Asian Development Outlook 2014 at an Asia Pacific Foundation of Canada event in Vancouver on Tuesday, April 22, 2014. The Asian Development Outlook is ADB’s flagship annual economic forecast, which provides a comprehensive analysis of macroeconomic issues in developing Asia, with growth projections by country and region.

ADO 2014 includes analysis of 45 economies, including People’s Republic of China, Myanmar, Afghanistan and India. The report also examines the prospects for developing Asia by subregion: Central Asia, East Asia, South Asia, Southeast Asia, and the Pacific. ADO 2014 includes analysis of 45 economies, including People’s Republic of China, Myanmar, Afghanistan and India. The report also examines the prospects for developing Asia by subregion: Central Asia, East Asia, South Asia, Southeast Asia, and the Pacific.

With widening income gaps in the region strengthening the case for governments to play a more active role in bringing about a fairer society, this year’s ADO 2014 theme chapter, “Fiscal Policy for Inclusive Growth”, explores how countries can raise more revenue and how they should use it to promote broad-based growth.

While developing Asia has made huge strides in reducing poverty, the last two decades have seen income inequality widening, driven by the same forces of globalization, technological progress, and market-oriented reform that accelerated the region’s rapid growth. In response, the region’s citizens are calling on their governments to play a more active role in bringing about a fairer society, one that provides opportunities for all and distributes the fruits of growth widely.

Among the issues addressed in the chapter are: 1) What has been the role of fiscal policy in promoting inclusion in Asia and the Pacific? 2) What does cross-country empirical evidence show on the effectiveness of fiscal spending on reducing inequality? 3) Do Asian countries have adequate fiscal space for more inclusion-enhancing spending programs? 4) What should be the target sources for greater revenue mobilization with least adverse effects on growth and how do the priorities differ across countries? 5) How can a medium-term fiscal framework incorporate equity within the broad confine of fiscal sustainability?

WHO: Stephen Groff, Vice President of Operations in East Asia, Southeast Asia, and the Pacific at the Asian Development Bank (ADB). A complete bio can be found here.

Yuen Pau Woo, President & CEO, Asia Pacific Foundation of Canada. A complete bio can be found at here

Both Mr. Groff and Mr. Woo will be available for comment. Video and audio recordings of the presentation are permitted.

WHEN: Tuesday, April 22, 2014, 12:00 p.m. Lunch will be served at 12 p.m. with the discussion beginning at 12:30 p.m.

WHERE: Simon Fraser University, Graduate School, 500 Granville Street, Segal Centre.

RSVP: Jillian Oliver, APFC, jillian.oliver@asiapacific.ca or Michael Reyes, ADB, mreyes@adb.org, by April 21.

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