Growth will maintain momentum for poverty reduction but considerable risks remain, says World Bank East Asia and Pacific Economic Update

SINGAPORE, December 19, 2012 - Economies of developing East Asia and Pacific remained resilient despite the lackluster performance of the global economy. The World Bank’s latest East Asia and Pacific Economic Update released today, projects the region will grow at 7.5 percent in 2012, lower than the 8.3 percent registered in 2011, but set to recover to 7.9 percent in 2013.

With weak demand for exports from global markets, domestic demand has remained the main driver of growth for most economies of the region. The region’s economic performance in 2012, the report says, was affected by China’s economic slowdown.

China’s growth is projected to reach 7.9 percent this year, 1.4 percentage point lower than last year’s 9.3 percent and the lowest growth rate since 1999. Weak exports and the government’s efforts to cool down the overheating housing sector slowed down China’s economy in 2012, but recovery has set in the final months of the year. In 2013, China’s economy is expected to grow at 8.4 percent, fueled by fiscal stimulus and the faster implementation of large investment projects.

By Wan Saiful Wan Jan

The Institute for Democracy and Economic Affairs (IDEAS) released an interim report entitled “Understanding Anti-Corruption Initiatives in Malaysia” on Monday 26 December 2012.  We are inviting feedback before completing the paper, for final release in early 2013.

Even though the interim report is only a few days old, the number of responses we receive has been marvellous.  Many have provided very good suggestions on how we can improve the paper before finalising it, and others sent us some very angry criticisms.  Both are equally important to help us improve.

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