South Asia: Regional Integration and Greater Economic Freedom Will Boost Growth and Prosperity – Heritage.org

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South Asia, one of the fastest-growing regions in the world, is home to 1.7 billion people and has the world’s largest working-age population. The region’s average annual GDP growth is projected to be well above 8 percent by 2020. The recent steep decline in global oil prices in this heavily oil-import-dependent region has helped to create price stability, lower inflation, decrease fiscal deficits, and reduce electricity-generation costs—which has reduced energy-subsidy burdens for regional governments. That means that more money is now available for investment in infrastructure and other public goods. Although the region’s GDP projections are rosy for the next five years, this promising scenario may not be sustained over the longer…

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