US, WASHINGTON (ORDO NEWS) — The coronavirus pandemic is expected to significantly slow the growth of emerging economies in East Asia and the Pacific, as well as China, according to a World Bank economic survey published Monday.
The Bank said that it is difficult to give accurate forecasts due to the rapidly changing situation, but the base scenario currently envisages a slowdown in the developing economies of the region to 2.1% in 2020 and minus 0.5% with a more unfavorable scenario compared to 5.8% in 2019.
In China, where the outbreak of coronavirus began in late December, growth is projected to slow to 2.3% in the baseline scenario, or to 0.1% in a more unfavorable scenario compared to 6.1% in 2019.
The report said the region was confronted with an unusual combination of “destructive and complementary events.”
“Significant economic difficulties seem to be inevitable in all countries,” the World Bank said.
Contact us: email@example.com
The article is written and prepared by our foreign editors from different countries around the world – material edited and published by Ordo News staff in our US newsroom press.