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ASEAN+3 Finance Process

ASEAN+3 Macroeconomic Research Office

About Us
Established in 2011 by ASEAN+3 Finance Ministers, the ASEAN+3 Macroeconomic Research Office (AMRO) is an international organization that aims to contribute to the macroeconomic and financial resilience and stability in the ASEAN+3 region. Read more

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Annual Reports

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AMRO Agreement

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Macroeconomic Surveillance

Regional Financing Arrangements (RFA)

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Regional Knowledge Hub

ASEAN+3 Finance Process
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AMRO’s publications aim to identify risks to economic growth and stability and to prescribe policies to address those risks. Read more

ASEAN+3 Regional Economic Outlook (AREO)

ASEAN+3 Financial Stability Report (AFSR)

ASEAN+3 Fiscal Policy Report (AFPR)

Annual Consultation Reports

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Policy Perspectives

Policy Position Papers

AMRO History Book

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Read the commentaries and opinion pieces by AMRO staff and officials on pressing economic and policy issues. Read more

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Get the latest updates on ASEAN+3 macroeconomic and financial developments and learn more about AMRO's activities Read more

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Member Economies
AMRO’s member economies comprise the 10 member states of the Association of Southeast Asian Nations (ASEAN), and China; Hong Kong, China; Japan; and Korea. Read more

Brunei Darussalam

Cambodia

China

Hong Kong, China

Indonesia

Japan

Korea

Lao PDR

Malaysia

Myanmar

Philippines

Singapore

Thailand

Vietnam
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Work with AMRO to contribute to the macroeconomic and financial resilience and stability of the ASEAN+3 region. Read more

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ASEAN+3 Finance Process

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Blogs

Strengthen Structural Reforms and Fiscal Institutions to Rebuild Fiscal Policy Buffers

August 21, 2025

ASEAN+3 economies face a fiscal policy crossroads as they confront both external headwinds and domestic structural challenges.

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Blogs

Strengthening Spending Efficiency and Fiscal Prudence: Japan’s Journey with Evidence-Based Policymaking

June 26, 2025

Japan has made steady progress in applying EBPM across various ministries and agencies to strengthen spending efficiency and fiscal prudence.

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Blogs

Joined at the Hip: Regional Banks and Japan’s Regional Revitalization Strategies

May 27, 2025

Koon Hui Tee, Shunsuke Endo

Japan’s demographic headwinds remain a significant structural challenge, threatening long-term sustainability. What do these forces mean for Japan’s regional banks?

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Annual Consultation Reports

AMRO’s 2024 Annual Consultation Report on Japan

March 4, 2025

Aruhan Rui Shi, Koon Hui Tee, Paolo Hernando, Pim-orn Wacharaprapapong, Runchana Pongsaparn, Shunsuke Endo, Wee Chian Koh

The Japanese economy is projected to grow at 1.3 percent in 2025. While inflation has eased, it is expected to remain above the Bank of Japan’s target.

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