Slowing growth in Asean: UN Escap

Breaking News August 06, 2014 15:46

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

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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