The report forecasts slower growth and rising poverty in the Asia-Pacific region this year as "multiple shocks" compound troubles for people and for businesses. Growth for the region is estimated at 5 percent, down from the original forecast of 5.4 percent. The region saw a rebound to 7.2 percent in 2021 after many economies experienced downturns with the onset of the coronavirus pandemic. Countries like Malaysia may suffer outflows of currency and other financial repercussions from those changing policies, the World Bank said. That is likely to affect many Asian countries whose trade relies on demand from China.

Source: Manila Times April 05, 2022 22:39 UTC