MPDD Seminar Series on
"Southeast Asian Economic Outlook 2010"
Mr. Kensuke Tanaka
OECD Development Centre
Wednesday 26 January 2011
MPDD Meeting room 7B, Secretariat Building
United Nations Building, Bangkok
The OECD Development Centre's 2010 Southeast Asian Economic Outlook (SAEO 2010) concludes that the six major ASEAN countries have rebounded from the global economic crisis, with medium-term growth prospects returning to pre-crisis levels, With economic recovery underway across the region, GDP growth will average 6% annually across the ASEAN-6 countries over the 2011-15 period, which is about the same level as the period 2003-07.
Despite this positive outlook, SAEO 2010 concludes that future growth needs to be more balanced across ASEAN countries. The publication highlights that the global financial crisis has offered Southeast Asian countries an opportunity to rethink past growth strategies and define new development objectives. Both regional integration and national efforts will help promote more balanced growth in the region. To balance regional growth, Southeast Asian countries should take urgent action to improve medium-term fiscal frameworks, enhance external competitiveness by supporting new growth sectors and develop integrated regional transport infrastructure.
Kensuke Tanaka is a project manager/economist at the Asia & Pacific Desk of the OECD's Development Centre. He is in charge of the Southeast Asian Economic Outlook . He also leads the related projects of Asian Business Cycle Indicators (ABCIs) and Medium-term Projection Framework for Growth and Development (MPF). He is the editor and co-author of “Shaping Policy Reform and Peer Reviews in Southeast Asia : Integrating Economies amid Diversity”, OECD, 2008 and has authored several studies on Asian economies.