Asia Pacific round-up: China seizes up to $157bn of unspent local government budgets, and more

18 Sep 15

A round-up of public finance news stories from Asia Pacific you might have missed.

China seizes up to $157bn of unspent local government budgets

Angry Chinese authorities have seized up to 1 trillion yuan ($157 billion) from local governments who failed to spend their budget allocations, sources said, as Beijing seeks ways to stimulate economic growth which is at its slowest for 25 years. (Reuters)


Japan downgrade fuels doubts about Abenomics

Two developments suggested Prime Minister Shinzo Abe’s strategy to spur sustained growth for Japan is stalling, as the government prepared a new push to revive the economy. (Wall Street Journal)


Can Malcolm Turnbull put Australia’s economy back on track?

Malcolm Turnbull’s big pitch is about economics. Economic leadership and economic confidence were the first two points he made as he applied for Australia’s top job. (


Indonesia: Central bank offers more realistic outlook for 2016 budget

The nation’s central bank has proposed a more realistic outlook for the deliberation of the 2016 state budget, saying that uncertainty would still overshadow next year’s development. (Jakarta Post)


Survey finds Thai government doing poor job publicising economic plans

Largely clueless about the government’s economic plans, a majority of Thais believe officials should go on the road to publicise their initiatives to reignite the economy, a poll has concluded. (Bangkok Post)

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