World Bank trims East Asia, Pacific GDP forecast amid Covid-19 concerns

The World Bank expects the region to grow 7.7 per cent this year.- AFP

MANILA (Reuters): Growth in East Asia and the Pacific this year will likely be slower than previously thought, the World Bank said on Thursday, as many countries in the region grapple with spikes in Covid-19 cases, new variants and vaccine supply constraints.

The East Asia and Pacific region, excluding China, is expected to grow 4% this year, World Bank President David Malpass said, down from a 4.4% forecast in March, with countries like conflict-torn Myanmar facing a deeper-than-expected slump.