World Bank East Asia and Pacific Economic Update, April 2023 : Reviving Growth / World Bank East Asia and Pacific Regional Office.

Format:

Book

Author/Creator:

World Bank. East Asia and Pacific Regional Office, author, issuing body.

Series:

World Bank e-Library.

World Bank e-Library

Language:

English

Subjects (All):

East Asia--Economic conditions.

East Asia.

Pacific Area--Economic conditions.

Pacific Area.

Physical Description:

1 online resource (xxxii, 84 pages) : illustrations, maps.

Other Title:

World Bank East Asia and Pacific Economic Update, April 2023

Place of Publication:

Washington, DC : World Bank Group, 2023.

Summary:

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.

Notes:

Description based on publisher supplied metadata and other sources.

Publisher Number:

10.1596/978-1-4648-1983-4