Arab Today, arab today world bank trims asia forecast but says no china hard landing
Last Updated : GMT 22:28:13
Arab Today, arab today
Arab Today, arab today

World Bank trims Asia forecast but says no China hard landing

Arab Today, arab today

Arab Today, arab today World Bank trims Asia forecast but says no China hard landing

Average growth is forecast at 6.5% according to World Bank
London - AFP

The World Bank on Monday cut its growth forecasts for developing economies in East Asia and the Pacific but allayed fears of a hard landing for China's slowing economy.

The bank also said it expects any increase in US interest rates to have an orderly impact but warned of a risk that markets could react sharply, causing regional currencies to fall further.

In a report on 14 economies led by China, the bank called on them to mitigate the impact of the slowing Chinese economy and any increase in US rates by adopting "prudent macro-economic management" and deeper structural reforms.

"The baseline growth projections for China assume a further gradual slowdown in 2016-17," the bank said, playing down concerns that the world's second largest economy could slow down abruptly following stock market turmoil and a softening manufacturing sector.

"China has sufficient policy buffers to address these risks and prevent a sharp slowdown," it said.

In its updated outlook for the region, the bank said China's gross domestic product (GDP) is expected to grow by 6.9 percent this year, moderating to 6.7 percent next year and 6.5 percent in 2017. GDP rose 7.3 percent in 2014.

The forecasts were slightly lower than the bank's projections in April.

For developing economies in the East Asia-Pacific region, average growth is forecast at 6.5 percent this year, 6.4 percent next year and 6.3 percent in 2017. This is down from 6.8 percent actual growth in 2014.

"This reflects mainly a moderate slowdown in China," the bank said.

The 14-country forecast also includes Indonesia, Malaysia, the Philippines, Thailand, Vietnam, Cambodia, Laos, Myanmar, Mongolia, Fiji, Papua New Guinea, the Solomon Islands and East Timor.

Among the bigger Southeast Asian countries, the Philippines and Vietnam are expected to be the stronger performers as weak commodity prices hobble growth in oil exporters Indonesia and Malaysia.

The Philippine economy is forecast to grow by 5.8 percent this year, 6.4 percent next year and 6.2 percent in 2017, compared with 6.1 percent in 2014.

Vietnam's GDP is forecast to rise from 6.0 percent in 2014 to 6.2 percent this year and 6.3 percent each over the next two years.

For Malaysia, growth is expected at 4.7 percent this year and in 2016 and 5.0 percent in 2017, down sharply from 6.0 percent in 2014.

Indonesian growth should come in at 4.7 percent this year, 5.3 percent next year and 5.5 percent in 2017, compared to 5.0 percent in 2014.

The bank said it expects the US central bank to raise interest rates in the coming months, which could prompt capital to flow back into the US economy from emerging markets in search of better returns.

"While this increase has been anticipated and is likely to prove orderly, there is a risk that markets could overreact in the short term," it warned.

"The risks to global and regional growth, and to the cost and availability of external financing, call for a continued focus across the region on sound macroeconomic management and on mitigating external and fiscal vulnerabilities."

Axel van Trotsenburg, the bank's regional vice president, said in a statement the reforms must include "regulatory improvements in finance, labour, and product markets, as well as measures that enhance transparency and accountability".

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today world bank trims asia forecast but says no china hard landing Arab Today, arab today world bank trims asia forecast but says no china hard landing

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today world bank trims asia forecast but says no china hard landing Arab Today, arab today world bank trims asia forecast but says no china hard landing

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today What's the reason and what you can do

GMT 05:44 2017 Sunday ,22 October

What's the reason and what you can do
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Syrian children die of hunger

GMT 19:25 2017 Sunday ,22 October

Syrian children die of hunger
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 10:18 2017 Saturday ,21 October

How to do open-heart surgery

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday