Publication: World Bank East Asia and the Pacific Economic Update, April 2023: Reviving Growth
Files
4,994 downloads
399 downloads
281 downloads
173 downloads
98 downloads
Date
2023-03-31
ISSN
Published
2023-03-31
Author(s)
World Bank
Abstract
Economic activity in developing East Asia and Pacific has recovered from the recent shocks and is growing.
However, output remains below pre-pandemic levels in many countries and inflation remains higher than target
ranges in some countries. Near-term growth will depend on the dynamics of global growth and commodity
prices, and financial tightening, which is likely to continue in the face of high inflation in the US.
Taking a long-term view, growth in EAP has been faster and more stable than in much of the rest of the world.
The result has been a striking decline in poverty and, in the last decade, also a decline in inequality. But it
would be a mistake to let these achievements obscure vulnerabilities, past, present, and future. The region must
implement structural, macro-financial, and climate-related reforms to address the problems of slowing
productivity growth and scars from the pandemic, even as it faces up to the major challenges of deglobalization, aging and climate change.
Link to Data Set
Citation
“World Bank. 2023. World Bank East Asia and the Pacific Economic Update, April 2023: Reviving Growth. © Washington, DC: World Bank. http://hdl.handle.net/10986/39598 License: CC BY 3.0 IGO.”