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The Survey, published annually since 1947, is a flagship publication produced by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP). It provides analyses to guide policy discussion on the current and emerging socio-economic issues and policy challenges to support sustainable development in Asia and the Pacific.

The Economic and Social Survey of Asia and the Pacific 2024: Boosting affordable and longer-term financing for Governments is the 77th issue of this flagship publication. The Survey 2024 examines how countries in the region, donors, multilateral development banks and credit rating agencies can boost the availability of affordable and long-term financing for Governments.

Public investment for a brighter future is increasingly difficult due to large financing needs, surging borrowing costs and shorter loan maturities. Many developing countries are forced to choose between servicing debt or investing in education, health and social protection for their people.

The Survey for 2024 examines how countries in the region, donors, multilateral development banks and credit rating agencies can boost the availability of affordable and long-term financing for Governments. 

Official launch webpage       Highlights

Despite steady economic performance, people in Asia and the Pacific are experiencing weaker purchasing power, subdued job opportunities and deeper income and gender inequalities. The near-term economic prospects are subject to several downside risks, such as uncertainty relating to monetary policy stance, and escalation of geopolitical tensions and trade fragmentation within the Asia-Pacific region and beyond.

Chapter 1 cover

Chapter 1

Increasing public investments for development ambitions is looking more difficult. In addition to higher public debt levels, government borrowing costs have risen with shorter loan maturities in recent years. The analysis in Chapter 2 reveals that sustained macroeconomic and inflation stability, strong fiscal positions and financial market liquidity are key to keeping Governments’ borrowing rates at low levels. Further, the chapter discusses a host of policy and regulatory measures to improve public-revenue collection and to unleash sizeable domestic savings in the region.

Chapter 2 cover

Chapter 2

Chapter 3 discusses new perspectives that can shift the long-standing operations of international development partners to foster affordable and long- term development financing. Support from international development partners is urgently needed as national policy actions take shape through official development assistance. The roles of multilateral development banks and credit rating agencies in the development needs of developing countries are also discussed.

Chapter 3

Chapter 3

While working to secure more affordable, long-term financing, fiscal policymakers should also keep in view global megatrends. How Governments seize the opportunities and manage the risks brought about by demographic shifts, climate change and technological advancements will determine whether they provide economies and the people with net gains or losses.

Chapter 4

Chapter 4

Expert Group Meeting on Boosting affordable and longer-term financing for Governments, 31 October - 2 November 2023