Council of Pacific Education consultant, Krishna Datt (closest to camera) with other participants during the launch of Economic and Social Survey of Asia and the Pacific 2013 at Holiday Inn Suva yesterday. Photo: RAMA
By ROSI DOVIVERATA
The United Nations Economic and Social Survey of Asia and the Pacific 2013 is a useful tool in planning new developments in the region, says Council of Pacific Education consultant, Krishna Datt.
Launched yesterday at the Holiday Inn Suva, the survey highlighted how the region is expected to see subdued growth in 2013.
This is due to a sharp energy sector-led slowdown in Papua New Guinea, the largest economy in the region.
The uncertainty in the developed world is also expected to result in decreased tourism revenue and remittances, the report said.
Useful for planning
According to Mr Datt, the data has an overall importance in any kind of planning in any organisation.
“I’m dealing mostly with teachers but obviously we don’t operate singularly, we operate in a macroeconomic climate so all of this is relevant.
“Issues of unemployment relate directly to education, the kind of education we provide to the people in the Pacific, and this assists us to direct our training in that direction. Unemployment is an education issue as much as it is an economic issue.”
Facing unique challenges
Pacific islands continue to face unique challenges, including small population size, resource constraints and remoteness from trading partners.
The implications that climate change and natural disasters could have on Pacific island economies are serious, the report said.
They not only affect the short-term growth and development but also threaten the very existence of some countries.
Professor Biman Prasad, while presenting the report, highlighted the need to set up regional institutions to address and manage natural disasters in the Pacific.
Limited growth
Growth is expected to decelerate in the Pacific island developing economies.
Fiji, however, is expected to experience a slight increase in Gross Domestic Product growth in 2013.
Fiji’s economy is projected to grow 2.7 per cent in 2013, as compared to 2.5 per cent in 2012.
The survey said that the new normal of lower growth underlines need to make development inclusive and sustainable.
The survey said: “Much lower growth compared to recent years could become a new normal for many regional economies if present economic trends were to continue.
“Pacific island economies have had lower growth rates than Asian economies for the last few decades and this trend is not expected to shift.”
Among the various challenges being faced by these small island economies is their narrow resource base and high dependence on subsistence agriculture and tourism.
Social Protection
The survey highlighted the economic benefits of social protection.
It makes a first-time estimation of the public investment requirement of a package of social protection and sustainable development policies.
This comprises a job guarantee programme, a universal pension scheme, disability benefits, increased public health spending, universal school enrolment and universal access to modern sources of efficient energy.