Growth in most of developing East Asia and the Pacific rebounded in 2022 from the effects of COVID-19, while China has lost momentum because of continued measures to contain the virus. Looking ahead, economic performance across the region could be compromised by slowing global demand, rising debt, and a reliance on short-term economic fixes to cushion against food and fuel price increases. Growth in developing East Asia and the Pacific outside of China is forecast to accelerate to 5.3% in 2022 from 2.6% in 2021, according to the World Bank’s East Asia and Pacific October 2022 Economic Update, released on September 26, 2022. China, which previously led recovery in the region, is projected to grow by 2.8% in 2022, a sharp deceleration from 8.1% in 2021. For the region as a whole, growth is projected to slow to 3.2% this year from 7.2% in 2021, before accelerating to 4.6% next year, the report says.
At this seminar, Ergys Islamaj, Senior Economist, Office of the Chief Economist for East Asia and Pacific Region, introduced the main findings of the report.
Date/Time:
8am-9am, Friday October 7, 2022 (Japan Standard Time)
Speaker:
Ergys Islamaj
Senior Economist, Office of the Chief Economist for East Asia and Pacific Region, World Bank
Presentation material:
Reforms for Recovery: East Asia and Pacific Economic Update, October 2022 (PDF)
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