The World Bank (WB) yesterday forecast that the economic growth of developing countries in the East Asia and Pacific region could reach 3.2 percent this year. In its Economic Update Report for the East Asia and Pacific region, the World Bank said that the region's economy this year is forecast to decelerate from the growth rate of 7.2 in 2021, before accelerating to 4.6 percent next year.
According to a forecast made in April, the countries of East Asia and the Pacific region could achieve a growth rate of 5 percent in 2022.
The outlook for Indonesia was unchanged, at 5.1 percent whereas the World Bank sharply lowered its growth forecast for China from 5 percent in April to 2.8 percent.
The Financial Times (UK) has just published an article, saying that in the current gloomy economic period, when experts are forecasting recession and inflation in most countries, there are still some economies that recorded positive developments, in contrast to the overarching pessimistic picture. Prominent economies include Vietnam, Indonesia, India, Greece, Portugal, Saudi Arabia, and Japan.