Question
Consider the following statements with respect to the
growth forecasts been projected by the World Bank - I. The World Bank has slashed the growth forecast for the East Asia and Pacific (EAP) region to 4.7 per cent for 2023 from its April forecast of 5.1 per cent. II.The rest of the countries in the region are expected to see a slowdown to 4.6 per cent from 5.8 per cent. III. In 2024, the EAP region has been projected to grow by 4.1 per cent. Which of the following statements is/are correct?Solution
The World Bank has slashed the growth forecast for the East Asia and Pacific (EAP) region to 5 per cent for 2023 from its April forecast of 5.1 per cent. While China is expected to grow at 5.1 per cent this year, up from 3 per cent in 2022, the rest of the countries in the region are expected to see a slowdown to 4.6 per cent from 5.8 per cent. However, among the region, the Pacific countries are expected to grow at a higher 5.2 per cent. In 2024, the EAP region has been projected to grow by 4.5 per cent.
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