Full Report - Subregional Office for East and North-East Asia - escap

MACROECONOMIC PERFORMANCE AND POLICY CHALLENGES AT THE SUBREGIONAL LEVEL CHAPTER 2
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MACROECONOMIC PERFORMANCE AND POLICY
CHALLENGES AT THE SUBREGIONAL LEVEL
If we work together,
if we learn from each other,
… we will achieve the right outcome for our own nations,
our region, and beyond.
Peter O’Neill,
Prime Minister of Papua New Guinea
The growth momentum of the developing economies of Asia and
the Pacific slowed to 5.6% in 2012 compared with 7% in 2011.
However, this region is vast and very diverse, and aggregate figures
mask the diversity in performance and the challenges being faced
at the subregional and country levels. Therefore, this chapter affords
a more disaggregated analysis of macroeconomic performance and
policy challenges at the subregional level, with some details at the
country level. In the Survey, the Asia-Pacific region is divided into
five geographic subregions: East and North-East Asia; North and
Central Asia; the Pacific; South and South-West Asia; and South-
East Asia. An overview of macroeconomic performance and policy
challenges in all these subregions is furnished below, followed by
more detailed discussions on each subregion.
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