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South Asia's economic growth to reach 4yr high in 2015: UN
20 Jan '15
3 min read
Illustrating the magnitude of employment challenges the region is facing, WESP notes that the share of vulnerable employment, defined as unpaid family workers and own account workers, is as high as 60 per cent in Pakistan and 80 per cent in India.
The report notes that fragility of the global economy and country-specific weaknesses pose downside risks for growth in South Asia. Country-specific weaknesses, such as volatile security conditions, agricultural dependency on the monsoon and difficulties in implementing structural reforms, could hamper growth.
Further, a decline in global liquidity, along with a re-emergence of domestic inflationary pressures, could lead to a tightening of domestic credit, particularly in India and Pakistan, which would likely weaken consumption and investment activity. (RKS)
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