World Bank joins chorus of optimism on Asia's economic prospects

Tokyo

EAST Asia's economic growth outlook is expected to remain "broadly positive" over the next three years, the World Bank has said in a report that echoes other multilateral financial agencies' relatively bullish outlook for the region.

The economies of the developing East Asia and Pacific region as a whole are projected to expand at 6.2 per cent this year, and by 6.1 per cent next year, the World Bank said in its latest East Asia and Pacific Economic Update, which was released on Thursday in Singapore.

Growth will be driven by robust domestic demand and a gradual recovery in the global economy and commodity prices, it suggested.

Meanwhile, poverty in the region is likely to continue…