World Bank reduces East Asia's 2022 GDP forecast due to Ukraine war

As a result of Russia's invasion of Ukraine, the World Bank lowered its growth predictions for East Asia and the Pacific for 2022. They warned further losses could follow should conditions worsen in the region.

In a report published Tuesday, the Washington-based lender said that growth in the developing East Asia and Pacific region, which includes China, would expand by 5.0 percent, down from its October forecast of 5.4 percent.

But growth could slow to 4.0 percent if conditions worsened and government policy responses were weaker, World Bank said.

6 April 2022