News from Berlin
Asian Development Outlook Presented by Hans-Joachim Fuchtel
April 10th, 2014
News from Berlin - German Governor to the Asian Development Bank, Hans-Joachim Fuchtel presented the Development Bank’s Outlook report on Monday, April 7th in Berlin.
The report displays the current growth rate for the region which is round 6.2 percent and forecasts even a higher growth rate of 6.4 percent in 2015. Asia still remains the region with the highest growth rates in the world. Despite success in fighting poverty, Fuchtel stated that Asia has still a long way to go, with currently two thirds of the world’s poorest living in the region. “[The] gap between rich and poor keeps widening. We have to help our Asian Partners to stop this trend” added the Governor at the meeting.
The issue is to be surveyed by the Development Bank’s “Fiscal Policy for Inclusive Growth” report, included in the Outlook. According to Dr. Zhang, Deputy Chief Economist of the ADB, fiscal policy is key in addressing these questions. Taxation has to be better regulated and therefore the fiscal systems had to be reformed, stated the ADB expert.
For Fuchtel, this is where Germany can support Asian countries with expertise and experience in fiscal systems.
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