Press conference on launch of UN Economic and Social Survey of Asia and the Pacific 2015

Press conference organized by the UN Department of Economic and Social Affairs (UN/DESA) on the launch of the UN Economic and Social Survey of Asia and the Pacific 2015: Making growth more inclusive for sustainable development

• Categories: Media / Press Conferences
• Video Length: 00:29:32
• Production Date: 14 May 2015
• Asset Language: English
• Corporate Name: DEPARTMENT OF ECONOMIC AND SOCIAL AFFAIRS - DESA
• Subject Topical: SUSTAINABLE DEVELOPMENT
• Geographic Subject: ASIA; PACIFIC
• MAMS Id: 1358860
• Parent Id: 1358544

Description

Speaker:
Ingo Pitterle, Economic Affairs Officer, Global Monitoring Unit, Development Policy and Analysis Division, UN/DESA

Developing economies in the Asia-Pacific region continue to fare well in comparison to the rest of the world, but structural weaknesses constrain growth prospects, the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) said in its latest regional macroeconomic outlook report released today, emphasizing that more inclusive economic growth is key to ensuring sustainable prosperity for all.

Growth in the region’s developing nations will increase only slightly, to 5.9 per cent in 2015 from 5.8 per cent last year, with no significant change expected in 2016, according to the Economic and Social Survey of Asia and the Pacific 2015, ESCAP’s annual flagship publication. Inflation is also forecast to further decline and remain low, largely due to lower international oil prices, which have led to interest rate cuts in many economies of the region.

The growth potential of Asia-Pacific developing economies is being held back by infrastructure shortages and the excessive commodity dependence of some countries. The fragile global economic recovery, and consequently subdued global trade, pose additional challenges.