East Asia Resilient in 2023 Amid Global Stress, World Bank Says
- Economies across East-Asia Pacific will fare better than 2022
- Estimates for region higher than World Bank’s October report
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East Asia and Pacific economies remain broadly more resilient than other regions and should grow faster this year than in 2022, even with scars of the pandemic and war, the World Bank said.
The region’s economies are set to grow around 5.1% this year from 3.5% in 2022, the development bank said in its economic outlook update for the region released Friday. That’s up from a 4.6% estimate for 2023 that the World Bank published in October, mainly owing to a faster projection for China, which is now seen growing 5.1% this year instead of 4.5% six months ago.