FILE PHOTO: A participant stands near a logo design of World Bank at the International Monetary Fund – World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. REUTERS/Johannes P. ChristoTOKYO (Reuters) – The coronavirus pandemic is anticipated to stoke the slowest growth in more than 50 years in East Asia and the Pacific along with China, the World Bank said in an economic update on Monday.
The bank said the area is expected to grow by just 0.9% in 2020, the most affordable rate since 1967.
Development in China was anticipated to come in at 2.0% this year, increased by federal government costs, strong exports and a low rate of new coronavirus infections considering that March, however held back by sluggish domestic usage.
The rest of the East Asia and Pacific region were forecasted to see a 3.5% contraction, the World Bank stated.
Reporting by Daniel Leussink, Editing by Sherry Jacob-Phillips
