How best to co-ordinate fiscal stimulus programmes and set the foundations for sustainable economic growth will be high on the agenda for Asean finance ministers meeting this week in the seaside resort of Pattaya.
Over six months after the crisis began with the near-failure of the US financial system, some promising signs have emerged that the massive monetary and fiscal stimulus programmes enacted worldwide are beginning to bear fruit.
But Somchai Sujjapongse, the director-general of the Fiscal Policy Office, said the key was to ensure that stimulus funds have a lasting, beneficial impact on jobs, productivity and future growth.
"The leaders fortunately have moved in the right direction, and are looking at how not only to build up employment, but how to ensure sustainable growth once the current crisis passes," he said.
The global financial crisis has taken centre stage at the Asean meetings this year. While regional economies have escaped the bank collapses that have plagued the US and Europe, growth across Asia has plummeted with the sharp decline in export demand.
Read more: http://www.bangkokpost.com/business/economics/14716/asean-to-consider-sustainable-growth
Source: Bangkok Post (www.bangkokpost.com)