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
Tokyo
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.
In its latest East Asia Pacific Economic Update, the World Bank said growth will ease slightly in the region's developing countries this year, despite lower oil prices and the continuing economic recovery in these economies.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Putin plans to meet Xi in China days after his new term starts
Biden vetoes bid to repeal US labour board rule on contract, franchise workers
Economic leaders of South Korea, Japan, China say FX volatility is a risk
US automakers win extension on use of Chinese graphite in EV tax credits
US service sector contracts in April; price pressures up
Thaksin’s daughter calls central bank independence an ‘obstacle’