World Bank cuts East Asia, Pacific economic growth forecasts
According to the World Bank, the East Asian and Pacific economies, including China, will grow by 6.3% in 2016 and 6.2% in 2017, lower than its previous estimates of 6.4% and 6.3%. The bank’s latest economic growth projection for the region was also weaker than its economic growth rate of 6.5% in 2015.
On a country basis, the World Bank projects economic growth of 6.7% in 2016 and 6.5% in 2017 for China, 4.4% and 4.5% for Malaysia, 2.5% and 2.6% for Thailand and 5.1% and 5.3% for Indonesia. The bank also expects an economic growth of 6.4% for the Philippines in 2016.
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