Economic and social survey of Asia and the Pacific 2014

This annual flagship publication of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) says that Governments in the Asia-Pacific developing nations will need to undertake spending to address environmental factors which would otherwise hamper growth prospects and outlines ways to mobilize resources for sustainable growth in Asia-Pacific developing nations.

Asia-Pacific developing economies are experiencing yet another year of subdued growth, the United Nations said today, calling for quick action on the removal of domestic structural constraints and the unlocking of fiscal space to help stimulate growth and support social development. Structural constraints, such as infrastructure and development deficits, along with external challenges, are keeping the region from realizing its economic potential, according to the Economic and Social Survey of Asia and the Pacific 2014, the annual flagship publication of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP). Developing countries in the region are forecast to grow at an average of 5.8 per cent in 2014, up from 5.6 per cent last year. This marks the third successive year of growth below 6 per cent. By comparison, growth averaged 9.5 per cent in the pre-crisis years of 2005-2007 and over 7 per cent in 2010 and 2011.

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