East Asia and Pacific Economic Update April 2014

East Asia and Pacific Economic Update April 2014

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Developing countries in the East Asia Pacific region will see stable economic growth this year, bolstered by a recovery in high-income economies and the marketa€™s modest response so far to the Federal Reservea€™s tapering of its quantitative easing, according to the East Asia Pacific Economic Update. Developing East Asia will grow by 7.1 percent this year, largely unchanged from 2013, the report says. As a result, East Asia remains the fastest growing region in the world, despite a slowdown from the average growth rate of 8.0 percent from 2009 to 2013. In China, growth will ease slightly, to 7.6 percent this year from 7.7 percent in 2013. Excluding China, the developing countries in the region will grow by 5.0 percent, slightly down from 5.2 percent last year.Overall, the trade balance marginally improved, and net trade was less of a drag on growth in 2013 compared to 2012. ... continued to reduce the budget deficit throughsolidrevenueperformanceandsomespending offsets to sharply higher expenditure on subsidies. ... broad-based subsidies toward targeted transfersand broadening ofthe tax base through introduction ofa goods and services tax Populationanbsp;...

Title:East Asia and Pacific Economic Update April 2014
Author: World Bank World Bank
Publisher:World Bank Publications - 2014-05-13

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