News round-up: Asia Pacific (September 10-14)

17 Sep 12
Public finance stories from Asia Pacific you might have missed this week.

Public finance stories from Asia Pacific you might have missed this week.

Japan has revised down its quarterly growth figures, reigniting fears that the world's third-largest economy is stumbling amid turmoil in Europe and a slowdown in Asia (AFP).

 

The Malaysian government is expected to announce a lower deficit number for its 2013 budget, in line with its target to achieve a 3% deficit by 2015 (The Star).

 

Local government borrowing will become more active as the economy faces increasing downside pressure, but outstanding debts at the local level will continue to decline, according to a senior researcher at the Chinese ministry of finance (China Daily) .

 

South Korea is set to add 5.9 trillion won ($5.2bn) of economic support measures as Europe’s sovereign debt crisis and a slowdown in China drive down the nation’s exports (Bloomberg).

 

Sri Lanka has run a deficit of 4.0% of gross domestic product in the first half of the year, though there are signs that more taxes are being extracted out of citizens to cover state spending, official data shows (Lanka Business Online).

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