Policy of short-term and immediate concern for the ESCAP countries

The deterioration in the world economy in the last 18 months has changed the outlook for a large part of Asia from hopeful expectation of meeting the growth targets of the Second Development Decade to economic stagnation and starvation for millions of people. The main elements in the situation now facing the poorest and most populous countries of the ESCAP region are the grave food shortages, rampant inflation and critical balance of payments positions. Other countries, including most of those in east and southeast Asia whose export earnings rose and whose economies were buoyant in 1973, now face declining commodity prices as well as inflation and growing balance of payments problems.

Sustainable Development Goals:

Decent Work and Economic Growth

Reduced Inequalities