This report on progress towards the MDGs in Asia and the Pacific has two parts. Part 1 assesses whether countries are on or off track for the various indicators. Part 2 examines disparities within countries. Overall, much of the news is good. Asia and the Pacific is one of the world's most dynamic regions, and has been forging ahead on many of the MDGs.
The Asia-Pacific Development Journal (APDJ) is published twice a year by the Macroeconomic Policy and Development Division of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP).
The primary objective of the APDJ is to provide a platform for the exchange of knowledge, experience, ideas, information and data on all aspects of economic and social development issues and concerns facing the region and to stimulate policy debate and assist in the formulation of policy.
The crucial role of regional cooperation in meeting the future infrastructure requirements of Asian and Pacific countries cannot be overstated. The need for cooperation in the areas of infrastructure creation, maintenance and utilization is well recognized. On the financing side, research reveals that the region will need to find at least $228 billion per year to pay for the infrastructure it plans to build and maintain between 2006 and 2010.
According to the Economic and Social Survey of Asia and the Pacific 2006, global economic growth slowed to 3.2 per cent in 2005, down from the record growth rate of 4.0 per cent in 2004. The growth rate of developing countries in Asia and the Pacific also decelerated moderately in 2005. The slowdown in the global economy and in ESCAP developing countries was the result primarily of high and volatile oil prices and a softening of global trade. More expensive oil also heightened inflation in the region; however, overall price pressures remained mild by historical standards.