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East Asia must tap low oil prices to recast fiscal policy: World Bank

Reforms can ensure sustainable growth, says report, which forecasts slower expansion in developing nations this year

Low oil prices will benefit developing countries such as Cambodia, Laos, the Philippines and Thailand, the World Bank said.


THE World Bank has called on developing countries in East Asia and the Pacific to seize the opportunity offered by lower oil prices to improve their fiscal positions, so that they can provide the physical and social infrastructure needed to maintain future economic growth.