Coordinated macroeconomic, employment and social protection policies in Asia and the Pacific

Coordinated global, regional and national efforts to support output, jobs and incomes have been an important factor behind the relatively swift recovery from the global economic crisis in Asia and the Pacific. Further strengthening such coordination of economic, employment and social protection policies is critical in supporting a more sustainable and balanced growth in the region. Ensuring that the macroeconomic framework, in addition to addressing economic growth targets, inflation and sustainable public finances, is employment-rich and inclusive provides an important anchor to such coordination. Such a framework needs to be underpinned by gender- sensitive employment strategies and sectoral strategies that integrate employment. Strengthening the tax and benefit system so as to finance a social protection floor while promoting productive investment and employment that generates future tax revenues contributes to both fiscal sustainability and inclusive growth.