Foreword

The worst recession in half a century has cast a shadow over the growth prospects of the developing countries of Asia and the Pacific. In 1981, many of these nations managed to maintain the tempo of economic progress, but 1982 brought a general slow-down in growth rates under the grim pressures of lingering recession, high interest rates and faltering export earnings because of slack demand and increasing protectionism in the industrialized countries. The impact was felt not only in widespread development cutbacks and mounting fiscal imbalances but also by millions of people as unemployment rose and hardships worsened for the region’s ragged legions of rural poor.

Sustainable Development Goals:

Decent Work and Economic Growth

Reduced Inequalities