Tuesday, March 26, 2013

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[IWS] ADB: PACIFIC ECONOMIC MONITOR--MARCH 2013 [26 March 2013]

IWS Documented News Service

_______________________________

Institute for Workplace Studies----------------- Professor Samuel B. Bacharach

School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies

Cornell University

16 East 34th Street, 4th floor---------------------- Stuart Basefsky

New York, NY 10016 -------------------------------Director, IWS News Bureau

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Asian Development Bank (ADB)

 

PACIFIC ECONOMIC MONITOR--MARCH 2013 [26 March 2013]

http://www.adb.org/publications/pacific-economic-monitor-march-2013

or

http://www.adb.org/sites/default/files/pub/2013/pacmonitor-201303.pdf

[full-text, 36 pages]

Description

This edition of the Pacific Economic Monitor discusses 2013 and 2014 GDP growth and inflation projections for ADB's Pacific developing member countries. The theme of the policy briefs included in this issue is energy in the Pacific.

Findings

Economic growth in the Pacific moderated to 7.3% in 2012, from a post-crisis high of 8.3% recorded in the previous year. This regional trend was driven primarily by the performance of the region's larger, natural resource–extracting, economies. Growth is seen to moderate further in 2013, before picking up in 2014.

Inflation moderated to 5.3% in 2012 from 8.5% in 2011 as international food and fuel prices stabilized, albeit at high levels. The appreciation of the PNG kina and other currencies used in the region helped lower price pressures. However, inflation rates varied sharply across the region due to country-specific factors.

National overviews

Growth slowed slightly, but remained high in Papua New Guinea (PNG) and Timor-Leste.

Economic growth in the Pacific islands also moderated to 2.5% in 2012, from 2.8% a year ago. Growth in Solomon Islands moderated from double-digit rates as log revenues leveled off. Economic stimulus from infrastructure projects was lower in Kiribati, the Federated States of Micronesia, Samoa, and Tonga.

Against this trend, increased tourist arrivals supported economic growth in the Cook Islands and Vanuatu. Nauru grew due to high phosphate production, while infrastructure spending and fishing revenues prompted growth in the Republic of the Marshall Islands and Tuvalu.

Contents

  • Highlights
  • The economic setting
  • Country economic updates
  • Policy briefs: Powering the Pacific's future
    • The energy security challenge in the Pacific
    • Pacific energy demand outlook
    • Power benchmarking in the Pacific: assessing key influences on operational performance
    • Savings from energy efficiency: the case of Samoa
  • Economic indicators

 

 

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This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.




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