The World Bank’s Global Economic Prospects report states that global growth is projected to slow from 3.1% to 2.1% in 2023, with emerging market and developing economies (EMDEs) being particularly vulnerable due to elevated global interest rates. Around one in four EMDEs have lost access to international bond markets, with growth projections for these economies predicted to be less than half of those from a year ago, rendering them susceptible to additional shocks. While China’s economy is recovering, the rest of the region is experiencing sluggish growth. The EAP region’s GDP is forecast to surge to 5.5% in 2023 balanced by sluggish growth and a slowdown in China’s economy in 2024 and 2025.
Source link : Thailand’s GDP to grow 3.9% in 2023 says World Bank by World Bank and Headline Editor
