{
  "title": "Post-Crisis Fiscal Policy Priorities for the ASEAN-5",
  "publication": "IMF Working Papers, November 1, 2010",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/31/post-crisis-fiscal-policy-priorities-for-the-asean-5-24343",
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  "summary": "This paper focuses on post-crisis fiscal priorities in the ASEAN-5 economies - Indonesia, Malaysia, Philippines, Singapore and Thailand.",
  "sections": [
    {
      "heading": "Executive summary and context",
      "content": "- Focus: post-crisis fiscal priorities in the ASEAN-5 economies — Indonesia, Malaysia, Philippines, Singapore and Thailand.\n- Context: sound economic fundamentals and timely and forceful policy responses to the crisis, including fiscal stimulus, contributed to rapid economic recovery in the ASEAN-5.\n- Transition challenge: as growth rebounds, these economies are beginning to identify, communicate and implement strategies for unwinding the fiscal stimulus while addressing long-term growth challenges."
    },
    {
      "heading": "Key findings",
      "content": "- Fiscal policy priorities identified:\n  - Address infrastructure gaps.\n  - Stimulate private consumption.\n  - Expand social safety nets.\n- Creating fiscal space:\n  - Will require raising revenues and reorienting public spending rather than increasing borrowing.\n- Structural reforms:\n  - Supporting structural reforms that aim to stimulate private infrastructure investment could help address long-term growth challenges while easing the burden on fiscal policy."
    },
    {
      "heading": "Policy recommendations",
      "content": "- Prioritize revenue-raising measures and reorientation of public spending over higher public borrowing to create fiscal space for infrastructure, consumption support, and social protection.\n- Implement structural reforms to mobilize private investment in infrastructure, reducing direct fiscal strain.\n- Coordinate communication and sequencing of fiscal stimulus unwinding to sustain recovery while addressing medium-term priorities."
    },
    {
      "heading": "Publication and metadata",
      "content": "- Publication title: Post-Crisis Fiscal Policy Priorities for the ASEAN-5\n- Series: Working Paper No. 2010/252\n- Issue: 252\n- Volume: 2010\n- Pages: 27\n- DOI: https://doi.org/10.5089/9781455209521.001\n- Stock No: WPIEA2010252\n- ISBN: 9781455209521\n- ISSN: 1018-5941\n- Publication date: November 1, 2010\n- Subject: Expenditure, Fiscal policy, Fiscal space, Infrastructure, Public debt\n- Keywords: ASEAN-5, economy, Indonesia, Philippines, WP\n\nInternational Monetary Fund. \"Post-Crisis Fiscal Policy Priorities for the ASEAN-5\", IMF Working Papers 2010, 252 (2010), accessed 9/17/2026, https://doi.org/10.5089/9781455209521.001\n\n---\n\n Content in this bundle\n\n- wp10252\n  - wp10252 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - wp10252 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/post-crisis-fiscal-policy-priorities-for-the-asean-5-24343"
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    "Published: November 1, 2010",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781455209521.001",
    "Focus: post-crisis fiscal priorities in the ASEAN-5 economies — Indonesia, Malaysia, Philippines, Singapore and Thailand.",
    "Context: sound economic fundamentals and timely and forceful policy responses to the crisis, including fiscal stimulus, contributed to rapid economic recovery in the ASEAN-5.",
    "Transition challenge: as growth rebounds, these economies are beginning to identify, communicate and implement strategies for unwinding the fiscal stimulus while addressing long-term growth challenges.",
    "Fiscal policy priorities identified:",
    "Creating fiscal space:",
    "Structural reforms:",
    "Prioritize revenue-raising measures and reorientation of public spending over higher public borrowing to create fiscal space for infrastructure, consumption support, and social protection.",
    "Implement structural reforms to mobilize private investment in infrastructure, reducing direct fiscal strain.",
    "Coordinate communication and sequencing of fiscal stimulus unwinding to sustain recovery while addressing medium-term priorities.",
    "Publication title: Post-Crisis Fiscal Policy Priorities for the ASEAN-5",
    "Series: Working Paper No. 2010/252",
    "Issue: 252",
    "Volume: 2010",
    "Pages: 27",
    "DOI: https://doi.org/10.5089/9781455209521.001",
    "Stock No: WPIEA2010252",
    "ISBN: 9781455209521",
    "ISSN: 1018-5941",
    "Publication date: November 1, 2010",
    "Subject: Expenditure, Fiscal policy, Fiscal space, Infrastructure, Public debt",
    "Keywords: ASEAN-5, economy, Indonesia, Philippines, WP",
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