Developing Asia-Pacific countries usually have national macroeconomic models that can be used to assess the potential economic impacts of adverse shocks and changes in economic policy directions. Yet, these models typically focus on economic dimension of sustainable development, while neglecting the social and environmental aspects. As countries seek to achieve the 2030 Agenda for Sustainable Development, there is a need to move beyond these traditional macroeconomic models because they are not designed to give a comprehensive picture of the impacts of public policies.
Amid the COVID-19 pandemic, the merit of having a macroeconomic model that captures interactions among economic, social and environmental variables has become more evident. As countries are introducing an unprecedented scale of fiscal stimulus, they need to ensure that such spending helps them to ‘build forward better’, that is, socially inclusive, more resilient to future shocks, and ecologically sustainable.
In this context, the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), together with the United Nations country team, are carrying out a capacity building project that aims to further integrate sustainable development into macroeconomic modelling in Indonesia. This national workshop is organized as part of this project.
The workshop runs for two days, Monday 7th March - Tuesday 8th March 2022, at 15.00-17.00 hours (Indonesia and Bangkok Times) and aims to (a) discuss ideas on public policy options that help Indonesia build forward better (Day 1); and (b) strengthen the technical capacity of government officials in conducting macroeconomic analysis that duly considers the social and environmental aspects of development (Day 2). Participation on Day 1 of the workshop is open to the public, while Day 2 targets government officials who work on economic modelling to support long-term development planning.