PUBLISHED : 2 Oct 2023 at 10:19
SINGAPORE – Developing economies in East Asia and the Pacific are set to see slower growth this year and next as the region reels from the impact of tighter finances and a weak global environment, according to the World Bank’s latest report.
Gross domestic product growth is estimated at 5% in 2023 and 4.5% in 2024, the World Bank said in its semi-annual outlook for East Asia and the Pacific. That compares with April forecasts of 5.1% for this year and 4.8% for the next.
The latest estimates were still faster than the pace seen in other emerging markets, it said….
