Singapore, April 7, 2014 - the report of the latest economic
developments in the region of East Asia and the Pacific issued by the
World Bank said that the developing countries in the East Asia and
Pacific region will witness a stable economic growth this year, thanks
to the economic recovery in the high-income countries in response to the
minor market so far to reduce the federal reserve council facilitation
measures quantification.
The report says that the East Asian developing countries will grow by
7.1 percent this year, largely unchanged from 2013.
Thus,
the East Asia is still the world's fastest-growing region, despite the
average growth rate of 8.0 per cent between 2009 and 2013. In China,
will decline slightly growth to 7.6 percent this year from 7.7 per cent
in 2013. With the exception of China, the developing countries in the
region will grow at 5.0 percent, slightly down from 5.2 percent last
year.
And these expectations says Axl van Trotsenburg, deputy head of the
World Bank for East Asia and the Pacific, "I worked at the East Asia and
Pacific region as a major engine of growth in the world since the
global financial crisis... Help the stronger growth of the world economy
this year in the region to expand at a steady pace and adapt to the
financial conditions of the world's most stringent".
Countries with the largest economy in South East Asia, such as Indonesia
and Thailand, face financial situations more global stringent and
higher levels of debt of the family sector. And accelerate the rate of
growth in Malaysia from his mistake slightly to 4.9 per cent in 2014. To
increase their exports, but the rising cost of debt service and the
ongoing efforts to adjust the public finance will affect the domestic
demand. In the Philippines, may give the growth rate to 6.6 per cent,
but the spending on reconstruction will compensation restrictions on
consumption
Countries were expected to grow with the economy to smaller steadily,
but will face the risk of overheating acceleration of economic activity,
which might need to be further tightening of monetary policy. In
Cambodia, expected to help the renewed momentum for reform after the
elections on the stability of the growth at 7.2 percent this year, but
that instability in the labor market can be a risk of negative impact on
growth rates.
It will help the steady progress on the
path of structural reforms and Myanmar to grow at the rate of 7.8 per
cent. But in the light of the limited progress in the structural reforms
in the banking sector and other sectors, is expected to grow Vietnamese
economy modestly by 5.5 percent this year. Most of the Pacific islands
and East Timor depend on financial transfers from developed countries.
There are still dangers regarding regional expectations. In this
respect, says Peart Hoffman
On the positive side, as indicated measures quantitative reduction last
year, will help flexible exchange East Asia to deal with the external
shocks, including the transformations of the possible adverse
consequences of capital flows. In addition, most countries have adequate
reserves to cover trade shocks and external shocks of the cross-bar.
Hoffman
said "In the long term, to maintain high growth rate, the East Asian
developing countries to redouble their efforts to continue with
structural reforms to increase the growth potential, and reinforce
confidence in the market".
The Structural reforms is essential to reduce vulnerability and enhance
the sustainability of long-term growth. China has already started a
series of reforms in the areas of finance and access to markets, and the
movement of labor, fiscal policy and to increase the efficiency of
growth and increasing domestic demand. With the passage of time, these
measures will put the economy on the level of