As the COVID-19 global pandemic continued to spread, countries around the world are bracing for a deep downturn, as lockdowns and quarantines have resulted to job losses and business closures. Governments, including ASEAN Member States, have taken swift action and applied monetary, fiscal, and sector-specific measures to cushion the widespread impact of the pandemic. To date, the combined fiscal stimulus packages implemented by the AMS has reached an equivalent of USD318.2 billion or 10.1% of ASEAN GDP in 2019. The…
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As the COVID-19 global pandemic continued to spread, countries around the world are bracing for a deep downturn, as lockdowns and quarantines have resulted to job losses and business closures. Governments, including ASEAN Member States, have taken swift action and applied monetary, fiscal, and sector-specific measures to cushion the widespread impact of the pandemic. To date, the combined fiscal stimulus packages implemented by the AMS has reached an equivalent of USD318.2 billion or 10.1% of ASEAN GDP in 2019. The…
Building Markets for a Sustainable Economic Recovery EXECUTIVE SUMMARY ES.1. TOWARD A PRIVATE SECTOR–LED AND PRODUCTIVITY-DRIVEN GROWTH PATH Like many successful transition economies, Myanmar has the potential to sustain a high growth rate for the next two decades. The country began a historic triple transition in 2011: from conflict to peace, from military to democracy, and from isolation to global integration. Economic transitions are complex to manage but hold great promise, as they can dramatically boost growth, create jobs, and…
Every month leaders from across the world visit Horasis Insights in search of inspiration and solutions. Together PBEC & Horasis explores, defines, and implements trajectories of sustainable growth. By Richard Hames, Founder and Chairman, Centre for the Future, Australia May 29, 2020 Even when the apparatus exists, novelty ordinarily emerges only for the man who, knowing with precision what he should expect, is able to recognize that something has gone wrong — Thomas S. Kuhn COVID-19 madness is generating a…
With global travel almost at a standstill, the latest results of the Henley Passport Index offer disturbing insight into the havoc the COVID-19 pandemic is indiscriminately wreaking. Since its inception in 2006, the index has provided the authoritative annual ranking of global passport strength. Travel freedom has increased dramatically over the period — in 2006, a citizen could travel to 58 destinations on average without a visa from the host nation; 14 years later, this number has almost doubled to…
Infrastructure is crucially important to foster economic development and prosperity of countries. It contributes to higher productivity and growth, facilitates trade and connectivity, and promotes economic inclusion. Infrastructure is also a key driver to achieve the Sustainable Development Goals (SDGs). For example, the expansion of electricity distribution networks will improve access to energy in urban and rural areas. Transport infrastructure will connect people, facilitate the movement of goods, support trade, thus contributing to a country’s economic growth. Water infrastructure will…