World Bank Predicts Slowdown for Asian Economies

Posted October 8th, 2012 at 8:00 am (UTC-5)
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The World Bank has issued a report predicting an economic growth slowdown in Asia this year.

Monday's report says economic growth in the Asia-Pacific region may slow down by a full percentage point, from 8.2 percent in 2011 to 7.2 percent this year, before recovering to 7.6 percent in 2013.

The new report also says that weak exports and lower investment growth will cut China's GDP growth from 9.3 percent in 2011 to 7.7 percent this year. However, the bank said it expects China's growth to rebound to 8.1 percent as the impact of stimulus measures kicks in.

The World Bank says policymakers in the East Asia and Pacific region will have to continue managing growth and reducing poverty in an environment that will remain volatile.