Jakarta (Antara Bali) - The World Bank has predicted that economic growth in the East Asia and Pacific countries will remain stable, registering slightly lower at 6.3 percent in 2016, and 6.2 percent in 2017-2018.
"The East Asia and Pacific regions are facing a stronger risk, as these are having a slowdown more than that expected in the high income countries. The economic slowdown will start early in China," the Chief Economist of the World Bank for East Asia and Pacific Regions, Sudhir Shetty, said via video conference here on Monday.
At the same time, many countries are facing the problem of having too little room to change their macro-economic policies, he added.
The East Asia and Pacific regions are helped by careful macro-economic policies, including an attempt to increase domestic revenue in some exporting countries.
However, according to Shetty, in order to maintain economic growth amid a challenging world situation, a country needs to make periodic progress in ushering in structural reforms.
Shetty remarked that this prediction depends on a variety of evolving risks. Therefore, the governments in East Asia and the Pacific are expected to prioritize financial and fiscal policies, which can reduce economic vulnerability, strengthen credibility and sharpen structural reforms.
A report on economic development in the East Asia and Pacific Regions showed that economies in the high-income countries are slowing down, while the slowdown is prevalent in developing countries.
Meanwhile, the world trade is weakening, commodity prices remain low and financial markets are less stable.
The Chinese economic growth is estimated at 6.7 percent in 2016, and 6.5 percent in 2017, which is slower than the 6.9 percent recorded in 2015.
Excluding China, the economic growth in developing countries in East Asia and the Pacific grew by 4.7 percent in 2015.
The rate of growth will also rise slightly, at 4.8 percent, in 2016, and by 4.9 percent in 2017-2018, supported by growth in the Southeast Asia region.
"However, the forecast for each country varies, depending on its relationship with high-income countries and China, as well as its dependence on export commodities," Shetty said. (WDY)
COPYRIGHT © ANTARA News Bali 2016
"The East Asia and Pacific regions are facing a stronger risk, as these are having a slowdown more than that expected in the high income countries. The economic slowdown will start early in China," the Chief Economist of the World Bank for East Asia and Pacific Regions, Sudhir Shetty, said via video conference here on Monday.
At the same time, many countries are facing the problem of having too little room to change their macro-economic policies, he added.
The East Asia and Pacific regions are helped by careful macro-economic policies, including an attempt to increase domestic revenue in some exporting countries.
However, according to Shetty, in order to maintain economic growth amid a challenging world situation, a country needs to make periodic progress in ushering in structural reforms.
Shetty remarked that this prediction depends on a variety of evolving risks. Therefore, the governments in East Asia and the Pacific are expected to prioritize financial and fiscal policies, which can reduce economic vulnerability, strengthen credibility and sharpen structural reforms.
A report on economic development in the East Asia and Pacific Regions showed that economies in the high-income countries are slowing down, while the slowdown is prevalent in developing countries.
Meanwhile, the world trade is weakening, commodity prices remain low and financial markets are less stable.
The Chinese economic growth is estimated at 6.7 percent in 2016, and 6.5 percent in 2017, which is slower than the 6.9 percent recorded in 2015.
Excluding China, the economic growth in developing countries in East Asia and the Pacific grew by 4.7 percent in 2015.
The rate of growth will also rise slightly, at 4.8 percent, in 2016, and by 4.9 percent in 2017-2018, supported by growth in the Southeast Asia region.
"However, the forecast for each country varies, depending on its relationship with high-income countries and China, as well as its dependence on export commodities," Shetty said. (WDY)
Editor : I Gusti Bagus Widyantara
COPYRIGHT © ANTARA News Bali 2016