Pacific Economic Monitor – July 2019

This issue of the Pacific Economic Monitor begins with an overview of international and regional economic developments.

It features 13 articles and policy briefs that explore socioeconomic development in the Pacific, particularly on social protection, education, elderly care, health care and health financing, pension schemes, water and sanitation, nutrition, employment, and financial inclusion.

Highlights

• Easing global growth amid trade conflict. The deterioration of the ongoing trade conflict between the People’s Republic of China and the United States along with weaker consumer and business confidence in the euro area combine for a weaker global economic outlook. By contrast, the Pacific is seen to recover from a disaster-related slowdown in 2018 with solid rates of expansion through 2019 and 2020.
• Steady progress in Pacific social development, but challenges remain. Lessons learned from the impacts of the global economic crisis a decade ago have since provided the impetus for substantial social development gains in the Pacific. These gains, in turn, are underpinned by steady improvements in social protection, health, and education policies, plus complementary investments in not only schools and hospitals, but also in critical urban services infrastructure. However, further progress is necessary, particularly in strengthening support to vulnerable groups including the unemployed, women, children, and older persons.