UN ESCAP TO REVEAL SURVEY RESULTS

UN ESCAP's Economic and Social Survey of Asia and the Pacific 2002

After a sharp decline in 2001 is Asia and the Pacific turning a corner?

Bangkok (United Nations Information Services) -- The dramatic suddenness of the global economic slowdown provides the backdrop for the launch of the Economic and Social Survey of Asia and the Pacific 2002. Economic Prospects: Preparing for Recovery.

The Survey, published by the United Nations Economic and Social Commission for Asia and the Pacific (UN ESCAP), will be presented to the media by Mr. Kim Hak-Su, Executive Secretary of UN ESCAP, at a press conference on Friday, 26 April 2002 at 10:30 AM at the United Nations Conference Centre.

Global economic slowdown:
"Dramatic in its suddenness and surprising in its severity"

The Survey's findings are disturbing but there is some room for optimism.

Output growth in the developing economies of the ESCAP region declined sharply, by almost 4 percentage points. The Survey predicts an adverse social impact caused by higher unemployment and the constrained capacity of governments to address emerging social problems and alleviate poverty through higher public expenditure.

Relatively immune to the downturn, however, were several economies - including Australia, China, India, the Russian Federation and most other economies in North and Central Asia.

There is also leeway for some economies to tackle emerging issues due to a benign inflationary environment, current account surpluses, and stabilized levels of foreign debt.

All in all, developing economies of the region are expected to post a better trade and growth performance in 2002, although for most the improvement is likely to be modest

Survey 2002, Economic Prospects: Preparing for Recovery consists of four parts.

Part one covers the global and regional economic developments and their implications and prospects for the UN ESCAP region. Part two concentrates on the macroeconomic performance, issues and policies, in both the developed and developing countries of the region. Part three examines the likelihood of Asian and Pacific economies achieving the Millennium development goals, which aim to reduce hunger, improve education, promote gender equality, reduce infant mortality, and improve maternal health. Part four looks at the under-recognized yet impressive regional development cooperation in Asia and the Pacific.

The annual Survey is the flagship publication of UN ESCAP, and is launched as a prelude to the upcoming ministerial-level 58th Commission Session to be held from 16 - 22 May 2002.

You or your representatives are cordially invited to attend the Press Conference on Friday, 26 April 2002, at 10:30 AM, to be held in the Conference Room 4, first floor, the United Nations Conference Centre (UNCC), Rajadamnern Nok Avenue. Refreshments will be served before the Press Conference.

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