Represents the first regionwide co-ordinated effort to provide the outlook for the Pacific food system. The system includes not only production agriculture, but also the whole complex of economic relationships and linkages that tie the region's food consumers to producers. The goal is to help increase knowledge.
Represents the first regionwide coordinated effort to provide the outlook for the Pacific food system. The food system includes not just production agriculture, but also the whole complex of economic relationships and linkages that tie the region's food consumers to producers.
The Pacific Food System Outlook represents the first regionwide coordinated effort to provide the outlook for the Pacific food system. The food system includes not just production agriculture, but also the whole complex of economic relationships and linkages that tie the region's food consumers to producers. The goal of the ""Pacific Food System Outlook"" is to help increase knowledge about the diverse components of this vital segment of the global economy.
The Pacific Food System Outlook represents the first regionwide coordinated effort to provide the outlook for the Pacific food system. The food system includes not just production agriculture, but also the whole complex of economic relationships and linkages that tie the region's food consumers to producers. The goal of the Pacific Food System Outlook is to help increase knowledge about the diverse components of this vital segment of the global economy. The food system is one of the economic sectors most sensitive to the potential consequences of price volatility. The expectation is that price volatility will continue for at least the near term. Public and private sector decision-makers around the region need the best possible information to address this challenge. This year's report analyses the underlying factors driving volatility; the potential near-term implications for production agriculture, food security, and the broader food system; and the nature of measures and approaches that governments and the private sector might employ to reduce potential adverse economic impacts.
Part 1 - Recent economic & social developments. Part 2 - Expansion of investment & intraregional trade as a vehicle for enhancing regional economic cooperation & development in Asia & the Pacific
After successfully weathering the pandemic in 2020, Brunei was hit by new waves of COVID-19, with case numbers going up significantly and new lockdown measures imposed in H2 2021. Reduced activities in mining and LNG manufacturing, combined with the negative impact of new pandemic variants on domestic services, led to a slowdown in the economy. Real GDP contracted by 1.6 percent in 2021. For 2022, growth is projected to rebound to 1.2 percent, on the back of easing of mobility constraints and a positive terms of trade shock due to surges in O&G prices. Inflation, while remaining relatively low at 2.2 percent at end 2021, has increased in 2022 and pressures are expected to remain elevated in the short term, owing to supply disruptions and higher food and fuel prices. The economy continues to diversify, with double-digit growth of the food/agriculture sector and a new fertilizer sector commencing production. The risks to the outlook are tilted to the downside, due to potential new COVID-19 variants, increased global uncertainty associated with an escalation of the war in Ukraine, monetary tightening from the US and a larger-than-expected growth slowdown in China. On the upside, higher energy prices would further improve the terms of trade and restore fiscal positions in the short term, while partially contributing to build the buffers needed to ensure stronger intergenerational equity. Strong policy actions are needed to boost medium-term growth and foster resilience.
Pacific Economic Outlook 2001-2002 contains annual economic forecasts made by a team of experts from the Pacific Economic Cooperation Council (PECC). The forecasting panel includes eminent economists from each PECC committee, covering a range of 20 economies. The Pacific Economic Outlook 2001-2002 contains an analysis and forecasts for Australia, Canada, Chile, China, Colombia, Ecuador, Hong Kong (China), Indonesia, Japan, Korea, Malaysia, Mexico, New Zealand, Peru, Philippines, Russia, Singapore, Chinese Taipei, Thailand, the United States and Viet Nam.
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