Spread of avian flu could affect next year's economic outlook November 3, 2005 -- Emerging East Asia grew at just over 6 percent in 2005 as the region's economies countered a series of threats, including rising oil prices and interest rates, the high-tech slowdown, and the end of preferential export quotas for garments, according to the World Bank's latest East Asia Update. Avian flu, which is endemic in the poultry flocks of many East Asian countries, is a growing concern, however, for regional economies as the disease spreads among birds and as health experts look for signs of human-to-human transmission. >>> More |  | |
"Economies in the region have adjusted well to some fairly serious shocks since the end of 2003, not least of which was the doubling of global oil prices," said Jemal-ud-din Kassum, Vice President, East Asia and Pacific Region. Indonesia, for example, which cut fuel price subsidies, adopted bold measures to soften the impact on the poorest through a new cash transfer program and increased health, education and infrastructure spending. On a more sobering note, the report notes that avian flu is now endemic in the poultry flocks of many countries in the region and indeed has spread to Europe and central Asia. "While the costs of dealing with this have so far been limited to around 0.1 percent of GDP, from culling birds and implementation of better animal health surveillance systems, the potential impact of a serious pandemic is of grave concern," said Milan Brahmbhatt, lead economist and main author of the report. |
|
RSS