Viet Nam enjoyed robust economic growth, averaging 7% per year, during 2000–2007; but the global financial crisis of 2008 exposed important gaps in its economic and institutional framework.
By 2012, the Indonesian economy had recovered from the 2008 global financial crisis, with gross domestic product (GDP) growth above 6%, the debt-to-GDP ratio declining, the fiscal deficit below 2% of GDP, and the primary balance in surplus. Inflation was low in comparison to previous periods and the current account was in surplus.
After decades of preferential treatment, incentives, and subsidies, state-owned enterprises (SOEs) in Viet Nam failed to compete effectively, and their financial problems created significant fiscal risks. Having virtually no access to private capital markets, general corporations had relied on extensive borrowing from the government and state-owned commercial banks to finance their operations.
Within the past two decades, Cambodia has transformed from a post-conflict country to a small, open and vibrant economy, growing by more than 10% in 2004 and maintaining a double-digit expansion through 2007.
On 27 May 2016, the Asian Development Bank (ADB) approved a single-tranche policy-based grant to the Solomon Islands for the Economic Growth and Fiscal Reform Program.
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