World Bank Sees Broadly Positive Outlook For Developing East Asia
13 Aprile 2017 - 05:28AM
RTTF2
Growth in developing East Asia remains resilient and the outlook
for the region is broadly positive, the World Bank said in its East
Asia Pacific Economic Update, released Thursday.
The Washington-based lender forecast the economies of developing
East Asia and Pacific to expand at 6.2 percent this year before
slowing slightly to 6.1 percent in 2018.
The growth is forecast to be driven by strong domestic demand.
This trend will also be underpinned by gradually rising demand for
exports, the lender noted.
China's growth is projected to continue easing steadily, to 6.5
percent this year and 6.3 percent in 2018-19. The moderation in
growth reflects the impact of the government's measures to reduce
excess capacity and credit expansion, the bank observed.
In the short term, the World Bank said policy makers should
prioritize measures that counteract global risks threatening the
availability and cost of external finance, as well as export
growth.
The lender observed that the global environment and domestic
vulnerabilities still pose risks to the region's prospects.
Faster-than-expected interest rate hikes in the U.S.;
protectionist sentiments in some advanced economies; and rapid
credit expansion and high levels of debt in several East Asian
countries are some of the risks to outlook, the World Bank
noted.
The lender recommended policymakers to focus on prudent
macroeconomic management to address these risks. Also, the bank
advised authorities to ensure sustainable fiscal balances in the
medium-term.
Across the region's large economies, increasing fiscal revenues
can help governments finance programs that boost growth and foster
inclusion while reducing risks to fiscal sustainability.
The World Bank said in the face of rising protectionism outside
the region, East Asia can seize opportunities to advance regional
integration.
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