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Slowing growth in Asean: UN Escap

Southeast Asia's economy is set to grow slower at 4.6 per cent from 4.9 per cent last year, according to the Economic and Social Survey of Asia and the Pacific 2014, the annual flagship publication of the United Nations Economic and Social Commission for Asia and the Pacific

Regionwide, developing countries in the region are forecast to grow at an average of 5.8 per cent in 2014, up from 5.6 per cent last year. This marks the third successive year of growth below 6 per cent. By comparison, growth averaged 9.5 per cent in the pre-crisis years of 2005-2007 and over 7 per cent in 2010 and 2011.

The survey showed that structural constraints, such as infrastructure and development deficits, along with external challenges, are keeping the region from realising its economic potential.


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