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

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.