Source: www.reuters.com
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MANILA (Reuters) - The World Bank cut its growth forecast for East Asia and the Pacific for 2022 to reflect the economic impact of Russia’s invasion of Ukraine.
The Washington-based lender said in a report on Tuesday it expected 2022 growth in the developing East Asia and Pacific (EAP) region, which includes China, to expand 5.0% percent, lower than its 5.4% forecast in October.
China’s economy is expected to grow 5.0% this year, down from a previous estimate of 5.4%, it said.
Reporting by Karen Lema; Editing by Ed Davies
