October 21, 2017

HANOI -- At their 24th meeting on Saturday in Vietnam, finance ministers of the 21 economies of the Asia-Pacific Economic Cooperation (APEC) adopted a joint ministerial statement, pledging to use all policy tools, monetary, fiscal and structural, individually and collectively to achieve strong, sustainable, balanced and inclusive growth.

At the 2017 APEC Finance Ministers' Meeting in central Hoi An city with the presence of Vietnamese Prime Minister Nguyen Xuan Phuc, the ministers centered their discussions on global and regional economy, Cebu Action Plan (CAP), long-term investment in infrastructure, base erosion and profit shifting, disaster risk financing and insurance, and financial inclusion.

According to the joint ministerial statement, fiscal policy tailored to member economy's circumstances should be used flexibly and be growth friendly, while ensuring that the public debt as a share of GDP is on sustainable path.

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