UN expects solid recovery in Asia Pacific

By Maverick Chen: 0 Comments Print E-mail China.org.cn, May 6, 2010

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Dr. Aynul Hasan, Chief of Development Policy Section, Macroeconomic Policy and Development Division, ESCAP [Maverick Chen / China.org.cn]

Asian-Pacific countries should consolidate a stronger-than-anticipated economic rebound into concrete recovery through increased social spending, the UN said today in its annual report on the region's development.

"Governments must embrace this opportunity to secure the gains of the economic rebound by investing in social programs that directly benefit people hardest hit by the crisis, act to reduce poverty, and create a more sustainable economy," said Noeleen Heyzer, UN undersecretary-general and executive secretary of the Economic and Social Commission for Asia and the Pacific.

Despite the global financial crisis, Asia and the Pacific remained the fastest-growing region in the world, mostly because of China and India, supported by fiscal stimulus plans and proactive monetary policies, the report said. The region's outlook for the year has also improved significantly, with overall growth projected to be 7 percent.

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