The World Bank trimmed its 2016 and 2017 economic growth forecasts for developing East Asia and Pacific, and said the outlook was clouded by risks such as uncertainty over China's growth prospects, financial market volatility and further falls in commodity prices.
The Washington-based lender now expects the developing East Asia and Pacific (EAP) region, which includes China, to grow 6.3% in 2016 and 6.2% in 2017, slowing from 6.5% growth in 2015. Its previous forecast in October was 6.4% growth in 2016 and 6.3% in 2017.
The expected slowdown in the region is mainly due to the continued moderation of growth in China, which is likely to see growth slow to 6.7% in 2016 and 6.5% in 2017, from 6.9% in 2015, the bank said. The growth forecasts for China were unchanged from October.
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The Washington-based lender now expects the developing East Asia and Pacific (EAP) region, which includes China, to grow 6.3% in 2016 and 6.2% in 2017, slowing from 6.5% growth in 2015. Its previous forecast in October was 6.4% growth in 2016 and 6.3% in 2017.
The expected slowdown in the region is mainly due to the continued moderation of growth in China, which is likely to see growth slow to 6.7% in 2016 and 6.5% in 2017, from 6.9% in 2015, the bank said. The growth forecasts for China were unchanged from October.
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