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..Press
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UNESCAP News Services
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Date 25
April 2005
Press Release No: G/08/2005
REGIONAL SHOCKS DETAILED BY UNESCAP'S ECONOMIC
AND SOCIAL SURVEY
Bangkok (UN Information Services) -- The 2005
Economic and Social Survey of Asia and the Pacific: Dealing
with Shocks was launched on Monday, 25 April 2005 in the UN
Economic and Social Commission for Asia and the Pacific, Bangkok
by Executive Secretary Mr. Kim Hak-Su.
The Survey details both economic and social trends
in the region, noting the impact of both unexpected events like
the tsunami disaster and bird flu and continuing challenges
such as persistent high oil prices, a flat US dollar and an
ageing population.
"The region is experiencing a year of shocks,"
said Executive Secretary Mr. Kim Hak-Su.
"Oil prices are 50 per cent higher in nominal
terms than two years ago, and we may have to revise forecasts
if high prices persist. The economic impact of the tsunami disaster
on the Asia-Pacific region in 2005 is likely to be small, but
destruction of human life and infrastructure has burdened smaller
affected countries," he said.
"China’s continued high growth of 9.5
percent despite measures to cool down the economy is another
surprise. Apart from China, Southeast Asia had its highest economic
growth rate since the 1997 crisis, with Singapore leading with
8.4 percent, followed by Malaysia and Vietnam at over 7 percent,"
said Mr. Kim. "Less developed countries and Pacific island
economies, however, have growth rates averaging below 5 percent
which is not sufficient to meet their development challenges."
"Ageing in some developing countries such
as China and Sri Lanka is also moving much faster than we predicted,"
he said.
The Survey will be used to initiate debate on
economic and social policy in the ministerial segment at the
61st session of the Commission. Results will also be used at
the Economic and Social Council session in New York in July
to help countries prepare effective policies. UNESCAP will also
target the areas highlighted by the Survey such as the growing
problem of youth unemployment, the impact of oil prices on the
region’s growth and follow-up activities on the Tsunami
and other natural disasters.
For more information : http://www.unescap.org/pdd/publications/survey2005/index.asp
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