World Bank Predicts Slower Growth in East Asia and the Pacific

By
Yukio Nomura
1 min read

The World Bank has forecasted a slowdown in the growth of developing economies in East Asia and the Pacific. According to the World Bank's semi-annual outlook, the gross domestic product (GDP) growth is projected at 4.5% for 2024 and 4.3% for 2025, a decrease from the 5% estimated for 2023. The report highlighted that higher interest rates and worsening geopolitical tensions are contributing to the clouded economic outlook for the region. Despite the fact that most economies in East Asia and the Pacific are expected to grow faster than the global average, the pace of growth remains slower than before the onset of the pandemic.

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