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Economic News

Last updated: Tuesday, October 16, 2018


World Bank Raises Growth Forecast for East Asia-Pacific Developing Nations

Posted: Friday, April 20, 2018

The latest East Asia and the Pacific Economic Update recently released by the World Bank (WB) raised its growth forecast for the developing East Asia and Pacific for 2018 to 6.3 per cent. Global recovery and robust domestic demand grounded the above optimistic outlook. However, emerging risks related to sustainable growth require closer attention.

According to the report, despite the positive outlook, policymakers in the region are recommended to identify and address emerging challenges, pay attention to short-term risks associated with faster-than-expected rate hikes in advanced economies and the escalation of trade tensions that need tightened monetary policies and heightened budget buffering. To accelerate long-term growth and boost public investment and private investment, productivity growth and human resources are critical.


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