Tokyo, 7 April 2010

The developing countries of the East Asia & Pacific region – the first to recover from the global economic crisis – can grow rapidly in the next decade even in a weakened world, but only if they implement structural reforms with renewed vigor and cooperate further on regional economic integration and climate change.

That is the message of the latest East Asia & Pacific Economic Update – the World Bank’s twice yearly assessment of the economies of the region.

Recovery in demand abroad, a sustained fiscal and monetary stimulus within developing East Asia, and a rapid rebound in consumer spending prompted the Bank to raise its projection for the region’s real GDP growth in 2010 to 8.7 percent, almost a percentage point above its November 2009 forecast.  The region has emerged from the crisis with manageable deficits and relatively low public and external debt, and social protection mechanisms have protected the poor from the worst effects of the slowdown.

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