The region has transformed from being comprised of mostly poor countries in the 1980s to a group of middle-income country, said the report. He said that the World Bank has come up with three pillars which can underpin the policy agenda for next step development. The first - fostering economic mobility-requires closing gaps in access to jobs and services, improving the quality of jobs and promoting financial inclusion. The second -providing greater economic security-includes bolstering social assistance systems, expanding social insurance, and increasing resilience to shocks. He also blamed the tax policy for failing to raise more tax from the rich who can afford to pay more.

Source: The Nation Bangkok December 07, 2017 20:26 UTC