International Business News – On September 27, the World Bank released the latest 2022 “East Asia and Pacific Regional Economic Report”.
In the report, the World Bank forecasts that most developing economies in East Asia and the Pacific will experience a rebound in growth in 2022.
The World Bank predicts that in 2022, China’s GDP growth rate may be 2.8%, which is lower than the previous forecast of 5%, and is expected to be 4.5% in 2023.
Previously, the OECD predicted that China’s GDP will grow by 3.2% in 2022, and the economy is expected to grow by 4.7% in 2023.
The World Bank predicts that the GDP growth rate of ASEAN countries in 2022 will be specific:
In 2022, Indonesia’s GDP growth rate will be 5.1%, which is consistent with the previous forecast, and 5.1% in 2023;
In 2022, Malaysia’s GDP growth rate will be 6.4%, and in 2023, it will be 4.2%;
In 2022, the Philippine GDP growth rate is 6.5%, which is better than the previous forecast of 5.7%, and 5.8% in 2023;
In 2022, Thailand’s GDP growth rate is 3.1%, which is better than the previous forecast of 2.9%, and is expected to be 4.1% in 2023;
In 2022, Vietnam’s GDP growth rate is 7.2%, which is better than the previous forecast of 5.3%, and is expected to be 6.7% in 2023;
In 2022, Cambodia’s GDP growth rate will be 4.8%, which is better than the previous forecast of 4.5%;
In 2022, Cambodia’s GDP growth rate is 4.8%, which is better than the previous forecast of 4.5%, and 5.2% in 2023;
In 2022, Laos’ GDP growth rate will be 2.5%, lower than the previous forecast of 3.8%, and 3.8% in 2023.