World Bank lowers East Asia growth forecast to 7.1%

Monday, 07 October 2013 - 21:27

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The World Bank lowered its 2013 growth forecast for East Asian developing countries to 7.1 percent and called for structural reforms to protect long-term expansion against financial volatility.

 

The estimate for this years gross domestic product growth is down from an earlier forecast of 7.8 percent made in April, and lower than the 7.5 percent growth recorded in 2012 and 8.3 percent in 2011.

 

Regional GDP growth in 2014 and 2015 was forecast at 7.2 percent for both years. Excluding China, the region is expected to grow 5.2 percent in 2013 and 5.3 percent in 2014.



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