Suchergebnisse

ADB and Indonesia have been collaborating for over 50 years. Indonesia was ADB's founding member in 1966 and is among its largest shareholders and sovereign borrowers. Indonesia has made tremendous social, economic, and political achievements during its 7 decades of independence. The country has a stable democracy and its economy has grown fivefold since the mid-1980s, allowing Indonesia to become a middle-income country in 2004. The economy has grown at a heathy pace in recent years, despite a challenging external environment. Investor confidence in the economy has increased considerably in response to strong macroeconomic management. However, fostering more inclusive and sustainable economic growth remains a challenge. While poverty has been reduced by 40 percent over the past two decades, the absolute numbers of poor and near-poor remain a concern. Inequality and regional income disparities remain high and quality jobs are scarce. To address these challenges, the government is pursuing an ambitious infrastructure development and structural reform program. Improving the quality of education and skills are also a key priority.

Fiscal revenues of carbohydrogen rich Azerbaijan is severely dependent on sales of oil, oil products and natural gas. From this point of view the change of oil prices in the global markets is considered as the main indicator for estimating the financial condition of the government. It should be noted that the price of a barrel of oil is estimated to be 45 USD when calculating the state and oil fund budget of the current year. Under these circumstances the net profits of the State Oil Fund of Azerbaijan (SOFAZ) from the sale of carbohydrogens is estimated to be 9,724 billion manats, while tax revenues from the oil sector to the state budget is estimated to total 1,88 billion manats. As a result, the share of oil revenues in the state budget increased compared to last year and reached 55.1%3 (the same indicator was 47.9% in 20174). According to our observations, the current conjuncture in the global oil market is changing in the favor of Azerbaijan. The price of a barrel of BRENT crude oil is changing in the interval of 70-75 USD5. Overall the average price for a barrel of BRENT crude oil was 66.8 USD during January – March of 20186 [Note: Starting from the III quarter of 2017 SOCAR has stopped publishing the monthly average price of Azeri light, which is the only source of information]. In the meantime oil extraction of the country increased by 2.4% and reached 9,7 million tonnes, while gas extraction increased by 5,2% and attained 7,3 billion cubic meters.

Resilience and innovation are the themes for Singapore's chairmanship of ASEAN this year, to achieve the twin goals of regional order amid emerging security challenges, and greater regional economic integration and connectivity. An initiative proposed by Singapore, which has received support at the recent Foreign Ministers Retreat this month, is the development of an ASEAN Smart Cities Network (ASCN). We argue that this has potential to contribute to the long-term goal of regional economic integration, bridging development gaps, especially if further cascaded to other cities in future, while avoiding pitfalls in the process of becoming smart cities.

High-quality education is one of the main determinants of economic growth. According to the "Government Program 2016-2020", education is one of the main priorities for the Government of Georgia1. Since 2013, the allocated budget of the Ministry of Education and Sciences of Georgia and its share in GDP has been increasing annually. These dynamics can affect, both directly and indirectly, on economic indicators such as productivity, competitiveness, unemployment and welfare. In this regard, the review of different aspects of higher and vocational education is worthwhile.

Since the early 2000s, Kazakhstan has been pursuing economic diversification and actively fostering private sector development. Following the global financial crisis of 2007–2008, the Government of Kazakhstan was compelled to access concessional resources to support its economic programs. The Asian Development Bank (ADB) responded with a countercyclical loan of $500 million. In 2015, ADB approved another countercyclical loan of $1 billion to help Kazakhstan counter the steep decline in oil prices and the economic slowdown in its major trading partners, including the Russian Federation. The loan helped the government modernize infrastructure and maintain job creation, deliver social services, support low-income households, and develop the private sector.

Driven by construction associated with large, donor-financed investments and by strong revenues from fishing licenses, Kiribati has enjoyed sustained economic growth over the past 6 years. The country's economy is, however, highly vulnerable to external shocks and income volatility, due to its exposure to climate change, dependence on imports, and reliance on revenue from external sources. These sources include foreign aid and investment income from Kiribati's sovereign wealth fund, the Revenue Equalization Reserve Fund. Private sector development is constrained by the size and scale of the economy, the high costs of doing business, and the country's widely dispersed population. The Asian Development Bank (ADB) has been working with Kiribati since 1974, with loans and grants totalling $72.86 million, as well as technical assistance projects worth $22.02 million committed.

Although its economy continues to grow vigorously, the Lao People's Democratic Republic (Lao PDR) is not without its development issues. The country is rich in resources and has dynamic mining and hydropower industries, but economic diversification is needed. The Government of the Lao PDR must strive for strong macroeconomic management, including foreign debt control, a sound fiscal framework, and effective budget management. While the government has consolidated expenditures to contain the national deficit, it needs to increase fiscal and foreign reserves to absorb any future shocks. Under its Eighth National Socio-Economic Development Plan, 2016–2020, the Lao PDR is making efforts to become eligible to graduate from least developed country status by 2020.

The Philippines is one of Southeast Asia's recent economic success stories, with strong growth accompanied by moderate inflation, sound fiscal performance, and a strong external payments position. The country's gross domestic product grew by an average of 6.4% a year during 2010–2017, compared with average annual growth of about 5% over the previous decade. The Government of the Philippines aims to lay a foundation for sustained strong and inclusive growth, a high trust society, and a globally competitive knowledge economy. Among the economic priorities identified by the current administration, which took office in June 2016, are addressing underinvestment in infrastructure and reducing income inequality and regional growth disparities.

Just 181 square kilometers in area, the Republic of the Marshall Islands (RMI) lies amid a rich fishery area in the North Pacific. While the capital of Majuro and the atoll of Ebeye are heavily urbanized, small populations are dispersed across the country's outer atolls. Annual grant assistance to the RMI under the Compact of Free Association with the United States (the Compact) has been diminishing since 2003. After the Compact grant period expires in 2023, the RMI is expected to complement domestic revenues with returns from the Compact Trust Fund, which receives annual savings from fiscal surpluses and contributions from development partners. Building the trust fund is a major challenge. The Asian Development Bank (ADB) has been supporting the Marshall Islands since 1990, and has committed loans for $93.10 million, grants for $21.76 million, and 52 technical assistance projects worth $22.17 million.

Samoa is making strong progress toward achieving its key development priorities. Poverty has fallen in urban centers, child mortality has been reduced, and greater emphasis has been placed on environmental sustainability. Primary school education is now almost universal, while gender disparity in both primary and secondary education has been eliminated. Support for Samoa's national budget is provided by the Asian Development Bank (ADB), the World Bank, the governments of Australia and New Zealand, and the European Union. This support has helped improve the lives of the country's poor, make progress on public financial management reforms, and implement systems to strengthen climate resilience.

Solomon Islands covers about 28,000 square kilometers of Melanesia in the South Pacific, with around 85% of the country's population living in villages of just a few hundred people each. While economic growth in Solomon Islands remains broadly steady, it is reliant on temporary and unsustainable drivers, including expansionary fiscal policy and unsustainable logging. With alternative opportunities to generate income being scarce, economic growth prospects rest on the private sector and developments in mining, agriculture, and fishing. The Government of Solomon Islands is also implementing a well targeted national tourism development strategy. The Asian Development Bank (ADB) has been supporting Solomon Islands since 1973 and has committed loans, grants and technical assistance totaling $317.60 million.

Since 2006, Sri Lanka has more than halved its poverty rate and made good progress in human development. However, while the country now stands on the cusp of reaching upper middle-income status, it needs to maintain its growth momentum and take steps to achieve and sustain quality growth. Over the next 5 years, the Asian Development Bank (ADB) will contribute to the Government of Sri Lanka's key development goals of job creation, income enhancement, rural economic development, knowledge formation, and economic diversification (including export development). ADB has worked closely with Sri Lanka since 1966, signing loans, grants, and technical assistance totaling $9.1 billion as of 31 December 2017. Cumulative disbursements to Sri Lanka for lending and grants financed by ordinary capital resources (OCR), the Asian Development Fund, and other special funds amount to $6.27 billion.

This is the story of our year in numbers and profiles featuring our communities, partners, and donors. Working together with leaders and changemakers on the frontlines, we address the dramatic economic, political, and social changes taking place in nearly 20 countries across Asia.

Rail links between China and Europe are typically analysed in the context of China's Belt and Road Initiative, focusing on China's economic rise and the implications for international relations. This paper argues that establishment of the China–Europe Land Bridge predated the Belt and Road Initiative and has been market-driven, as service providers identified and responded to demand for efficient freight services along preexisting railway lines. Governments' role was trade facilitating, i.e. reducing delays and costs at border crossing points, rather than investing in hard infrastructure. Service Providers responded by linking European and Asian value chains (e.g. in automobiles and electronic goods) and reducing costs for traders shipping between China and Europe. The Eurasian Land Bridge provides a case study of 'servicification' as a component of increased trade in the 21st century.

With some of the world's highest mountains covering 93% of its territory, Tajikistan faces obvious obstacles to its development. These include unstable food security, limited transport connectivity, and low levels of private investment. Due to its narrow economic base and reliance on remittances by labor migrants, Tajikistan's economy remains vulnerable to external shocks.