I. Recent Fiscal Developments 1

  Revenue 1

  Expenditure 3

  Financing 4

II. Key Fiscal Policy Measures 5

III. Budget Snapshots 9

IV. Fiscal Insights: AMRO Knowledge Products 10

Appendix I. Data Notes, Fiscal Year and Budget Coverage  12

  Data and Conventions 12

  Comparability and Limitations 12

Appendix II. Sovereign Credit Rating of ASEAN+3 Economies 14

Appendix III. Key Quarterly Fiscal Data 15