Many Asian economies will face a rapidly aging population which could lead to much higher levels of fiscal spending, especially for health insurance, long-term care, and pension benefits.
While Asian countries are showing robust economic growth, there remain uncertainties for medium and long-term growth. Demographic changes with an increasing old-age dependency ratio and rising inequality can have significant impact on long-term growth prospects, while lower-than-expected productivity growth in the global economy may cause negative spillovers. Moreover, a recent retreat from globalization and multilateralism pose serious uncertainties for short-term policy making. Demographic changes could also affect political decisions, especially on social spending for public pension and revenue mobilization. Interactions between central and local governments, and redistribution policies across different social groups are also factors.
Therefore, before taking fiscal action, policy makers should carefully consider the intersection of fiscal space and the need to support demand in a consistent fashion, and with due consideration to the effects of other ongoing or planned policy adjustments. At the same time, delivering on medium-term fiscal consolidation plans remains critical in some countries. Emerging markets and frontier economies in Asia need to further increase productivity and promote inclusive growth by lowering income inequality through judicious use of social spending, and improvements in access to health and education.
- To discuss recent challenges in fiscal policy under demographic change and radical uncertainties, and To share perspectives for formulating sustainable polices for inclusive growth in Asia, with leading experts from international organizations and universities.
About 100 participants comprised of senior officials from agencies responsible for fiscal policy, and experts from international organizations, think tanks, and academics.
Actively join discussions and share views and experiences.
- Discussion on the current challenges in fiscal policy sustainability to promote sustainable social spending and economic growth in Asia;
- Policy recommendations from government officials and policy makers on how to tackle challenges in fiscal policy in their respective countries;
- Sharing of the latest research on the topic; and
- Closer cooperation among key local and international stakeholders involved in fiscal policy.
How to register
By invitation only.
English, Chinese, Russian
Policy Research Institute (PRI), Ministry of Finance Japan and Fiscal Affairs Department (FAD), International Monetary Fund (IMF)
Time of event
09:00 – 18:00Stay up to date Subscribe to our newsletter and get the latest issues, news, events, jobs and data in your e-mail inbox.