The growth rate of developing economies in the Asia-Pacific region isprojected at 7.3 percent in 2011, representing a drop compared with lastyear’s figure of 8.8 percent.
The report on “ESCAP Economic and Social Survey”, which was released in Hanoi on May 5by the United Nations Economic and Social Commission for Asia and thePacific (ESCAP), puts growth for East and Northeast Asia at 7.9 percent,North and Middle Asia at 4.8 percent, developing countries inAsia-Pacific islands at 5.5 percent, South and Southwest Asia at 6.8percent and Southeast Asia at 5.5 percent, respectively.
In 2011, most economies are likely to see an increase in inflationfrom rising food and oil prices, that could push 42 million additionalpeople in poverty, joining the 19 million already affected in 2010, thereport said.
ESCAP urges the protection of poor andvulnerable households through strengthening of public food distributionsystems, food vouchers, school feeding programmes and other targetedsubsidies.
Governments need to moderate pricesthrough tariffs and tax policies, regulation on hoarding and speculativeactivities and the countercyclical use of buffer stocks, the reportsaid.
Vietnam ’s economic growth in 2010reached 6.78 percent. In the first quarter of this year, the figurestood at 5.43 percent while the inflation rate was 6.12 percent./.