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PLASTICS
Regional Plastics Outlook for Southeast and East Asia
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Southeast and East Asia plays a central role in the global effort to tackle plastic pollution, given its substantial share of the global economy, strategic position in plastics value chains and rapidly rising plastics demand.
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High deficits underscore limited fiscal space post-pandemic
Economic issues are at the forefront of citizens’ minds, yet governments must respond in a challenging fiscal landscape. In 2023, the average fiscal deficit in OECD countries reached 4.6% of GDP, up from 2.9% in the years preceding the COVID-19 pandemic (2015-19). Addressing complex, long-term challenges will require strategic management of constrained resources within this limited fiscal space.
These fiscal pressures come as action is needed to respond to demographic, green and digital transitions, and low levels of public trust. Fewer than four in ten people (39%) across OECD countries report trusting their national government, and only 37% believe their government effectively balances the interests of current and future generations.? ?
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