Full Report - Subregional Office for East and North-East Asia - escap

MACROECONOMIC PERFORMANCE AND POLICY CHALLENGES AT THE SUBREGIONAL LEVEL CHAPTER 2
energy efficiency and environmental conservation and
promote the use of technology. The Government is
furnishing a 2% interest subsidy and 60% guarantee
to eligible companies. Carbon footprint labels and
green procurement are also being emphasized.
To monitor the impact, indicators, such as the
number of green jobs, the contribution of green
businesses to GDP, GHG emission by strategic
sectors and spending on green technology research
and development, will be used.
In Indonesia, the Government has laid out eight
priorities for sustainable growth, with green jobs
as an overarching theme: renewable energy; low
carbon transport; energy efficient buildings; clean
technology; improved waste management; improved
freshwater provision; sustainable agriculture and
forest management; and sustainable fisheries. The
finance ministry has identified economic instruments,
such as environmental tax and green budgeting,
while the central bank has included environmental
performance in bank credit policy.
The Government of Thailand in December 2012
approved a plan to change the automobile tax
structure so that it is based on carbon emissions
rather than engine size. 15 Brunei Darussalam
commissioned its first photovoltaic solar power plant
in 2012 and is actively exploring alternative energy
as a new avenue for expertise and skills which can
be tapped into by businesses. These are part of
the Government’s strategy to move away from the
current high rate of per capita energy consumption
and reduce energy intensity by 45% by 2035.
Endnotes
1
For further information on these, see China Daily, “China
to reform income distribution”, 5 February 2013. Available
from http://english.people.com.cn/90778/8122934.html.
2
Available from www.env.go.jp/en/focus/docs/files/
20120427-01_01.pdf.
3
The economies in North and Central Asia can be
broadly classified into two groups based on the type
of commodity dependence of their external sectors, which
is typically measured by the share of export earnings
of the top single commodity (or top three commodities) in
total exports. The first group comprises energy exporters,
namely Azerbaijan, Kazakhstan, the Russian Federation,
Turkmenistan and Uzbekistan. In these countries,
energy-related products are the single most important
category of their exports. The other group consists of
metal and mineral exporters, namely Armenia, Georgia,
Kyrgyzstan and Tajikistan. The main exports of these
economies are, for example, gold, aluminium and copper.
4
See UNDESA (2013) for an assessment of the economic
effects of the Russian Federation’s accession to WTO.
5
Data for 2012 are on a calendar year basis. Afghanistan
changed its fiscal year during 2012. Previously the fiscal
year ran from 22 March to 21 March of the following
year. Fiscal year 2012 as the transition year will contain
only 9 months (21 March – 21 December). From
2013, the fiscal year will start from 22 December of the
previous year to 21 December of the current year. For
all practical purposes, from 2013, data on Afghanistan
will be on a calendar year basis. This move is expected
to facilitate development budget implementation by
moving the last quarter during which most expenditure
takes place to one with more conducive weather conditions.
6
For details, see Graham Bowley, “Potential for a
mining boom splits factions in Afghanistan”, New York
Times, 8 September 2012.
7
The budget deficit for 2012, excluding debt consolidation
of power and food areas, works out at 5.5% of GDP.
Moreover, Pakistan did not receive approximately $1.2
billion inform the Coalition Support Fund during fiscal
year 2011/12 (although funds were received in August
2012); this had an effect on both external receipts as
well as on the budget.
8
The figures are for fiscal years starting in April; an
acceleration to 6.3% in fiscal year 2012/13, from 5.5%
in fiscal year 2011/12.
9
Available from www.tls.searo.who.int/LinkFiles/Home_
NATIONAL_STRATEGIC_DEVELOPMENT_PLAN_
2011-2030.pdf.
10
“People close to poverty need help to buy health
insurance”, Viet Nam News, 29 October 2012.
Available from http://vietnamnews.vnagency.com.vn/
social-issues/232045/people-close-to-poverty-needhelp-to-buy-health-insurance.html.
11
See Francezka Nangoy and ID/Wahyu Sudoyo,
“Indonesia’s 2012 current account deficit at $21.5 b:
Minister”, Jakarta Globe, 8 January 2013. Available
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