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Bernard Spragg. NZ
The WB stated in a report on the Asian region that despite the progress made, there is an expected deceleration in China's economy in 2025 due to ongoing issues in the real estate market, weak consumer and business confidence, and structural factors such as an aging population and global tensions.
Aaditya Mattoo, the WB's chief economist for the region, stated that the measures introduced by Chinese authorities to support the economy are not enough to replace the necessary deep structural reforms for long-term growth.
It is anticipated that GDP in developing East Asia and the Pacific will increase by 4.7 percent in 2024 and 4.9 percent in 2025 due to higher domestic consumption, recovery in merchandise exports, and revival in tourism.
The World Bank expects that Indonesia's GDP growth rate for 2024 and 2025 will reach or exceed the pre-crisis levels of 5% and 5.1% respectively.
source: worldbank.org
Aaditya Mattoo, the WB's chief economist for the region, stated that the measures introduced by Chinese authorities to support the economy are not enough to replace the necessary deep structural reforms for long-term growth.
It is anticipated that GDP in developing East Asia and the Pacific will increase by 4.7 percent in 2024 and 4.9 percent in 2025 due to higher domestic consumption, recovery in merchandise exports, and revival in tourism.
The World Bank expects that Indonesia's GDP growth rate for 2024 and 2025 will reach or exceed the pre-crisis levels of 5% and 5.1% respectively.
source: worldbank.org
