World Bank: Most developing countries in East Asia and Pacific in 2022 will rebound from the impact of the epidemic

27.09.2022

Number of this text: 929, reading time for about 2 minutes

Guide: The World Bank believes that the economic growth in East Asia and the Pacific region is mostly driven by domestic demand recovery and export growth.

Author | First Finance Feng Difan

The World Bank (hereinafter referred to as "World Bank") In the latest release of the East Asia and the Pacific Economic Daily (hereinafter referred to as "Half -annual News"), the latest release of October 2022, it is estimated that in 2022, most developing countries in East Asia and the Pacific region in 2022 The economy will rebound from the impact of the epidemic.

However, the World Bank also said that in the future, the economic performance of the region may be affected by factors such as slowing global demand, rising debt climbing, and relying on short -term economic measures to alleviate the rise in food and fuel prices.

Specifically, the aforementioned semi -annual report predicts that in 2022, the economic growth rate of developing countries in East Asia and Pacific, except China, will increase from 2.6%in 2021 to 5.3%.

Filuo, the deputy governor of the World Bank East Asia and the Pacific region, believes: "The economy of most countries in East Asia and the Pacific region is recovering."

The World Bank said that the economic growth in East Asia and the Pacific region was mostly driven by domestic demand recovery and export growth.

At the same time, the semi -annual report shows that there are three factors in the future that may threaten the tolerance and sustainable growth of the region, that is, the global economic slowdown may inhibit the demand for the export of manufacturing products and commodities in the region; The country's capital outflow and exchange rate depreciation, the increasing burden on debt repayment, and some measures to control inflation and debt have exacerbated the distortion of food, fuel and financial markets.

The semi -annual report also shows that countries in the region are trying to reduce the impact of rising food and energy prices on families and enterprises. Although the current policy and measures can provide urgent need for rescue, it has also exacerbated existing policy burdens.

The World Bank suggested that it is more desirable than price supervision through income transfer payment, because this can be targeted at the most needed people. In terms of food, the government shall focus on shifting from rice -centered grain to nutritional safety, reduce rice -related subsidies and trade barriers, and encourage the production of diversified nutritional foods. In terms of fuel, policy measures should help meet the urgent needs of current affordable energy, and do not sacrifice energy security and sustainability. Encouraging renewable energy investment can reduce the impact of fossil energy price fluctuations and help fulfill the promise of emission reduction. In terms of finance, the government needs to strengthen prudent measures and improve the ability of the financial sector to effectively allocate resources. Reporting the quality of bank assets in a timely manner will help evaluate and resolve the risk of credit mismatch caused by supporting measures during the epidemic period (such as supervision tolerance and suspension of repayment).

The World Bank also proposed that the recent price and interest rate impact may lower the regional economic growth by 0.4 percentage points; if more efficient intervention and deeper reforms are implemented, it may even offset the impact of the recent impact on growth.

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