Growth in developing East Asia and the Pacific is forecast to accelerate in 2023 as China’s economy reopens, while the pace of growth in most of the economies in the rest of the region is anticipated to ease after a strong rebound last year. Economic performance across the region, while robust, could be held back this year by slowing global growth, elevated commodity prices, and tightening financial conditions in response to persistent inflation, according to the World Bank’s East Asia and Pacific April 2023 Economic Update. Growth in developing East Asia and the Pacific is forecast to accelerate to 5.1% in 2023 from 3.5% in 2022, as China’s reopening helps the economy rebound to a 5.1% pace from 3% last year. Growth in the region outside China is anticipated to moderate to 4.9% from the robust post-COVID-19 rebound of 5.8% in 2022, as inflation and elevated household debt in some countries weigh on consumption.
At this online seminar, Ergys Islamaj, Senior Economist, Office of the Chief Economist for East Asia and the Pacific Region, shared the main findings of the report.
Date/Time:
8am-9am, Friday, April 14, 2023 (Japan Standard Time)
Speaker:
Ergys Islamaj
Senior Economist, Office of the Chief Economist for East Asia and the Pacific Region, World Bank
Presentation material
Reviving Growth: East Asia and Pacific Economic Update, April 2023 (PDF)
Related Seminars
World Bank Group Morning Seminar