Countries in the Asia-Pacific region will needs extra investment of about $459bn per year until 2020 to meet their infrastructure needs, according to an Asian Development Bank (ADB) report.

The 25 developing countries surveyed in the report, which comprise 96% of the region’s population, spent $881bn in infrastructure development, or 5.5% of gross domestic product (GDP) in 2015.

This falls short of the annual $1340bn the ADB estimates they would need between 2016 and 2020 to bridge the infrastructure gap in their fast-growing economies.

That annual investment gap accounts for 2.4% of their combined GDP. However, without including China, which invested up to $686bn upgrading its infrastructure in 2016, the investment gap rises to 5% of the combined GDP of the other 24 countries surveyed.

“Fiscal reforms could generate additional revenues equivalent to 2% of GDP to bridge around 40% of the gap for these economies,” said the report.

Source link

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

TAT’s Amazing Thailand Gala Dinner in Paris highlights gastronomy and sustainability tourism

Since Thailand eased travel restrictions and reopened for tourism, from July 2021 to March 2022, travellers from Europe made 522,680 trips to Thailand. The number included 53,727 trips by French travellers, making it the fifth largest market during the period, after Germany, Russia, the UK, and USA.

Thailand’s inflation rate highest in 14 years

Inflation may accelerate in June as continued increase in fuel prices have raised the costs of transportation and logistics, and a weak baht has driven up the price of imported raw materials and products

Amazon to invest 190 billion baht ($5 billion) in cloud Infrastructure in Thailand

New AWS Asia Pacific (Bangkok) Region will allow customers to run workloads and securely store data in Thailand while serving end users with even lower latency AWS plans an estimated investment of more than $5 billion (190 billion baht) in Thailand over 15 years