World Bank: East Asia and Pacific regional growth to decline to 4.3 percent
The World Bank has introduced the “East Asia and Pacific Economic Update” report, MONTSAME reports.
According to the report, the region’s economy is projected to slow down next year. Furthermore, it specified that Mongolia’s economic growth forecast for this year has been revised down by 0.4 percentage points from its May estimate, to 5.9 percent.
However, the forecast for 2026 was increased by 0.4 percentage points, reaching 5.6 percent. The World Bank revised down the economic forecasts for this year for not only Mongolia but also other Asian countries, yet increased the forecast for 2026. The economic growth of the East Asia and Pacific region has been more rapid compared to other countries globally. Nevertheless, the World Bank’s recommendation noted that bold reforms are necessary to ensure sustained growth.
Growth in the East Asia and Pacific region is projected to decline to 4.3 percent in 2026. The World Bank report highlighted that the outcome of this growth will depend on factors such as trade restrictions, continued global uncertainty despite a relative calm down, the global economic slowdown, and domestic policy choices.
Recall that WTO raises 2025 global trade growth forecast to 2.4 pct.
