Structural reforms can counter slower growth in Asia: Apec report

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SINGAPORE - Growth has slowed in the Asia-Pacific due to trade tensions and uncertainty, but countries in the region should take this opportunity to adopt structural reforms to strengthen their prospects for growth in the long term.. Read more at straitstimes.com.

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SINGAPORE - Growth has slowed in the Asia-Pacific due to trade tensions and uncertainty, but countries in the region should take this opportunity to adopt structural reforms to strengthen their prospects for growth in the long term.

Released on Wednesday , the report noted that the region grew at a slower pace of 3.6 per cent from January to June this year, compared to gross domestic product growth of 4.3 per cent over the same period last year.It added that while household spending remains a key driver of growth, and easing of trade frictions may improve the outlook for next year, consumption is slowing along with investment and trade.

The report, titled Slower Growth, Bigger Challenges, outlines policy reforms that can promote economic growth, like financial inclusion by investing in and enabling digital technology. The goal of more equitable growth underlies the forum's efforts to measure progress beyond economic output.

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