WB: 2017-2018 economic growth estimated at 6.9%
Capital: In 2016, real economic growth of the country is estimated to reach 7.0% in 2017 and front 2018 is estimated to grow by 6.9%, driven by exports, construction and government spending. According to a report issued by the World Bank.
In a summary of the Bank's report also highlighted that however risks that may occur during elections front, the negative effect of rising US interest rates and the slowdown of growth of the world economy.
World Bank also highlighted the growth outlook of 6.9% in 2016 and 2017. This is also caused by increased spending Royal. Moreover, exports of clothing to the continued growth, while the construction sector is expected to slow down as they led, but tourism can the growth of new direct flights.
In the perspective of international institutions has also confirmed that the country can still reduce poverty by family town by the construction sector, textile, clothing and services. The family in the countryside, there is growth in income from non-agricultural sectors, agriculture today constitute only 25% of income the income of the poorest citizens of 40% and this diversification help families from the effects of the decline of food prices. However, the decline in food only previous exposure source of household income growth in the countryside. Therefore, the pace of poverty reduction is expected to be slower than in previous years.
This report not only among countries in East and East Asia, which is projected to have a slower pace than in previous years that many countries are forecast to grow more slowly than in previous years as well. Update East Asia and East Asia Pacific recently released recently expected growth in China will continue to gradually decline from 6.7% this year to 6.5% in 2017 and 6.3% in 2018.
Mrs. Victoria Guangzhou Guangzhou Bank Vice President for East Asia and Pacific, said: 'Prospects for the development of East Asia and Pacific remains positive, with the weakness of the world's economic growth and external demand to be balanced by domestic consumption and investment strong. The challenge is to sustain long-term economic growth and make it grow in all areas, including through the narrow gap of income and access to public services, particularly in China, improving infrastructure all across the country in this area reduced child malnutrition persists, and utilize the potential of technology to push for raising finance.
The press release of the World Bank, among the smallest countries in the forecast growth in these countries has decreased considerably on exports. Although countries in the region fell, such as Mongolia, Papua New Guinea, etc. In contrast, economic growth in the country Cambodia, Laos and Myanmar will remain strong.